Bird’s eye view of Lucid Motors’ planned manufacturing facility.
Three years after revealing its plans to construct a dedicated factory in Casa Grande, Arizona, Lucid Motors is finally breaking ground.
The electric vehicle start-up inaugurated construction at a “ground-building” ceremony attended by Arizona Governor Doug Ducey and other state and local officials.
“We are proud to be moving forward on our commitment to manufacturing the Lucid Air in Casa Grande. With supportive investors, an outstanding team of designers and engineers, and a product strategy that extends well beyond the Air, we expect today to be just the start of a longstanding presence in this dynamic city,” said Lucid Motors’ CEO and CTO Peter Rawlinson in a news release.
The Lucid Air is a 400 horsepower luxury electric sedan designed by long-time veterans of Tesla Motor Company. Approximately the size of an Audi A6, it offers a 400 mile driving range with a 0 to 60 mph time of under 2.5 seconds, and a base price rumored to begin at $60,000.
A Lucid Motors Inc. branded Air alpha prototype vehicle sits on display during the 2017 New York … [+]
© 2017 Bloomberg Finance LP
To make this long-anticipated vehicle a reality, the Palo-Alto, Calif.-based company secured $1 billion in funding from the Kingdom of Saudi Arabia’s public investment fund last year. The $300 million first phase of construction is expected to be completed in late 2020. Production of the EV should start around that same time.
Initially the manufacturing facility will produce up to 10,000 vehicles per year. By the end of the third phase in the mid-2020s, Lucid will have invested $700 million in the production plant capable of building up to 60,000 units annually.
The Lucid Motors Inc. Alpha Speed Car is unveiled after completing a 217mph test in Ohio ahead of … [+]
© 2017 Bloomberg Finance LP Source