Lucid Motors Confirms Construction Of $700 Million EV Factory

Posted: Nov 30 2016, 8:38pm CST | by , in News | Cars & Vehicles

 

Lucid Motors Confirms Construction of $700 Million EV Factory
Credit: Lucid Motors
  • Lucid Motors confirms construction of $700 million factory in Arizona
 

The factory will be situated in Arizona and will start producing their first EV model by 2018

Lucid Motors which was formerly known as Atieva has officially confirmed there are building a production factory. The factory worth $700 million will be situated in Casa Grande, Arizona.

Previously Lucid Motors had revealed their very first E model prototype at the 2016 Los Angeles Motor Show. The prototype showcased was codenamed ‘Atvus’. The automaker has confirmed their very first EV will be built at that same plant in Arizona and production will start by 2018.

Even the Governor of Arizona Doug Duceyhas commented on the development saying by 2022 the state will gain about 2,200 new jobs.

Ducey further stated he has talked with Lucid Motors and the automakers have made a commitment to train and hire veterans from Arizona for working in their factory. The construction of the factory will be supervised by Lucid Motor’s director of engineering;Brian Barron.

Not a lot is known about Atvus the prototype unveiled last month by Lucid Motors, but we do know their first production car will have a 300 miles range.

Atvus will also come with autonomous features and will feature interior similar to the BMW 7-series. According to the Lucid Motors CTO Peter Rawlinson they have set a goal of producing 10,000 units of the Atvus by late 2018 and further 60,000 per year.

Lucid Motors has also reportedly already raised $131 million in funding and will start looking for more capital by next year.

Investors in Lucid Motors include the Venture Rockefeller, Japan's Misui& Co. and Beijing Auto, along with the famous Chinese electronics firm LeEco, which is also financing Faraday Future. But the Lucid CTO maintains they are still an American company.

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