Lucid Motors Plans $700 Million EV Plant in Arizona for Mystery Car Production
Lucid Motors, which hopes to someday be an EV manufacturing heavyweight rivaling Tesla, took an important step on Tuesday by announcing plans for an assembly plant in Casa Grande, Arizona. The automotive startup claims it could create up to 2,000 jobs over five years. Governor Doug Ducey seems particularly pleased to divulge Lucid’s commitment to training and hiring Arizona veterans.
For its part, Arizona will offer $46 million in subsidies dependent upon the company reaching milestones as it approaches vehicle production.
“We’ve demonstrated that Arizona is among the most competitive states in the nation to work and do business — we’re talking technology companies, we’re in Silicon Valley. We’re talking with organizations considering Arizona over other states,” Ducey said at the announcement.
AZCentral reported that Lucid had scouted 13 other states before finally settling on Arizona. “The word’s out on us,” Ducey said.
However, the word is not yet out on Lucid’s financial stability.
The company has reportedly already raised $131 million, but will still need to find more cash early next year. Current investors include Chinese electronics firm LeEco, Venture Rockefeller, Japan’s Misui & Co. and Beijing Auto, but Brian Barron — the company’s director of manufacturing — maintains that Lucid Motors is an American firm.
LeEco is behind two other electric car projects: its own LeSee and the American-based Faraday Future. The company recently announced a plan to construct a $1.8 billon EV plant in China and Faraday Future has its own billion-dollar desert factory in Nevada. Plant construction has been halted due to Faraday having missed payments to the contractor, while LeEco admitted that it was quickly running out of money.
However, if everything goes according to plan, Lucid CTO Peter Rawlinson wants the company to start unit production in 2018. The initial run of Model-S rivals will be limited to 10,000 in that first year, with the goal of increasing that to 60,000 units annually. However, not a lot is known about the car Lucid will put into production. Rawlinson has said it should have roughly the same interior dimensions as a BMW 7 Series, have autonomous capabilities, and a minimum range of 300 miles.
While it hasn’t said so explicitly, the company also wants it to best Tesla in terms of performance. Lucid has been showcasing videos of its EV powertrain inside of Edna — a modified Mercedes-Benz van — reaching 60 mph as fast as a Tesla Model S operating in “Ludicrous Mode.”
[Image: Lucid Motors]
Join the conversation
Latest Car ReviewsRead more
Latest Product ReviewsRead more
- Jeff S If AM went away I would listen to FM but since it is insignificant in the cost to the car and in an emergency broadcast it is good to have. I agree with some of the others its another way to collect money with a subscription. AM is most likely to go away in the future but I will use AM as long as its around.
- BEPLA I think it's cool the way it is.If I had the money, time and space - I'd buy it, clean it up, and just do enough to get it running properly.Then take it to Cars and Coffee and park it next to all the newer Mustangs.
- Dave M. I suppose Jethro’s farm report comes via AM, but there’s a ton of alternative ways to get that info. Move forward people. Progress is never easy.
- BEPLA For anything but the base model, I'd rather have a pre-owned Polestar 2.
- BEPLA "Quality is Job........well, it's someone's job, but it's not our job.Neither is building vehicles that people actually want or need.We only build what's most profitable. If only someone would buy our 97 day supply of SuperDutys."
Maybe all the Telsa wanna bees can team up and have one plant built instead of starting and stopping a bunch of them, didn't Telsa start out with a old GM plant, would that not be cheaper and easier in the short term and maybe long term???
"The initial run of Model-S rivals will be limited to 10,000 in that first year..." They'll have no trouble limiting production to 10,000 units.