November 21, 2024 8:17 pm
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After raising $4.4B in merger, Lucid to expand size of Arizona factory

By Cromwell Schubarth | Phoenix Business Journal

Fresh from raising $4.4 billion by going public in a blank-check merger, California-based Lucid Group Inc. is ready to more than triple the size of its Arizona car factory.

“We’re accelerating our factory to accommodate increased volume. We’ve just started grading the site for a 2.7 million square foot expansion,” CEO Peter Rawlinson told CNBC after ringing the opening bell on the Nasdaq exchange on Monday.

Read the full subscription story from the Phoenix Business Journal.

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