In 2020, there will be a new electric car in the market. Lucid Motors will take charge of manufacturing the vehicle. The industry had gone underground since 2016 when it showed off its Air Luxury EV.
Things seem to go well on Lucid Motors’ side. On Monday, the company plans to place Air into manufacturing in2020. In addition, the process of in case kicked off in Casa Grande, Arizona-a site of production. They invested a total of $300 million from the site.
Lucid got an investor April this year when they had cash streaming in their accounts. The startup cash is $1 billion, which Saudi Arabian Public Investment Fund funded. The company did not make public terms and conditions on the cyber since it is a private entity. It also asserted that the Saudi fund acquired a lot of profit in the 2020s.
This week, Peter Rawlinson, who is Lucid Motors CEO, said that the inclusion of contributing investors, a firm team of experts, and strategies of the product goes far well beyond the Air. They are expecting fruitful efforts to stand before the face of the changing city.
This post was originally published on Stock Markets News