Electric car company lacks funds to cover full cost of Casa Grande plant

Lucid sedans
Lucid sedans

ACA officials are not concerned that the company does not expect to have all the money before 2022

By Howard Fischer | Capitol Media Services via Arizona Daily Star

(Disclosure: Rose Law Group represents landowners who helped make this project a reality.)

The big announcement by the governor’s office this week that a California firm will invest $700 million to build an auto manufacturing plant in Casa Grande left out one important fact: The company doesn’t have anywhere near that much.

In fact, a spokesman for Lucid Motors put the company’s bank account in the range of “a few hundred million” even after several rounds of fundraising. Much of that cash has come from Chinese investors and even a Chinese state-owned company.

Continued:

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