By Heather Smathers | PinalCentral
Lucid Motors’ Casa Grande facility is still on track, a spokesman says, despite reports of a major Chinese investor selling off his stake in the company.
David Salguero, marketing manager for the California-based Lucid, said plans are proceeding for a manufacturing facility in Casa Grande.
“Our Series D funding activities are going well and we continue to work on preparations for our factory in Casa Grande,” he said in an email to PinalCentral.
China’s financial markets were rocked by announcements this week that investment firm LeEco was liquidating assets in an attempt to raise capital to repay investors. Among the announcements was that LeEco had sold its shares in Lucid.
