Future looking clearer for Lucid
Sep 18, 2018
US Electric Vehicle hopeful Lucid Motors received a major boost to its prospects with the announcement from the Saudi Public Investment Fund (PIF) that it will provide USD 1bn in financing to the company.

Lucid is aiming to begin production of its first car the high-end Sedan, the Air, in 2019, ahead of the vehicle being launched in 2020. Targeted output for 2019 is around 10,000 units, which will then be ramped up to a total capacity of 50,000 units per annum.

Lucid has yet to build its planned facility in Arizona, which is expected to cost USD 700m.

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