Lucid motors

Electric vehicle startup Lucid motors have currently started working on Electric SUV and it might unveil in Summers, according to some sources. The company’s first car which is all electric Sedan called the Lucid Air will go into production in late 2020.

Talking on this matter Peter Rawlinson who is the Lucid Motors’ chief technology officer did not deny any of the company plans. He further said that the Silicon Valley-based automaker would reveal more plans for an electric SUV later this year. SUV was under consideration for a long time when the Lucid Motors’ parent company battery maker Atieva decided to manufacture and build a first electric car.

“We have a plan for future models in mind, and we can hopefully be in a position to clarify that plan later this year,” Rawlinson told The Verge in an interview. “Certainly, with Lucid Air platform, we have a platform that is ideally suited for more vehicles than just the Air. And, of course, we want to exploit that.”

According to some sources, Lucid Motors newest investor Saudi Arabia’s Public Investment Fund (PIF) is in talks with the company to build a second car. Other major automakers like Audi, Mercedes-Benz, have followed Tesla’s lead in developing all-electric SUVs. In last September, PIF announced that they have invested more than $1 billion in exchange for an undisclosed stake in Lucid Motors. The time came at the time of the company’s crisis as EV startup had spent more than a year in securing a share to help start the production of the Air.

Although, the company is not growing at full speed because the investment from Saudia Arabia has not been approved by the US government. The committee of foreign investment in the United States is still reviewing the agreement of investment. Rawlinson said he expects the committee approve the investment soon.

Rawlinson said about the investments, “My engineers and technologists and scientists were able to continue with their computer modeling on a relatively limited budget, [and] those months that were spent on those modeling endeavors have led to very significant advancements in our technology.”

One of our alpha [prototype cars], you may recall, hit 235 miles an hour in testing, and that was with our old power train,” he said. “Our new powertrain has taken quite a leap forward actually and I’m really excited.”

Rawlinson further said that when the remaining money from PIF comes, then the funding help in keeping the pathway of production up. Lucid Motors will also start to build out a small network of stores and service centers. There is a possibility that it would be built in Silicon Valley later this year. He does not expect to raise more funds once the Lucid motors start manufacturing cars. As he said they will generate enough revenue which will eventually increase the company’s revenue.

“I can see a really bright future, with a tangible manufacturing facility or facilities,” said Rawlinson about the Saudia Arab investment, We’d love to do that … We’re currently in a period where we are investigating all these options. There is a vision that there will be some sort of production facility in the future.”

“We are undertaking the appropriate studies, but I’m really excited about the potential of this. This partnership is huge for us; we can benefit the Kingdom of Saudi Arabia in a significant, meaningful and long-term manner.”

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The company plans to manufacture cheaper models that cost closer to $60,000. Also, a fleet of a beta version of Air would be built at Lucid Motors’ new headquarters in Newark, California later this year which the company has moved into production last week. Th manufacturing of the Lucid Air will begin at a factory in Casa Grande, Arizona that has not built yet.

The company wants to invest some $700 million in the new facility and plans, Rawlinson said that the company has surveyed almost 65 sites all over the US US before settling on the land in Casa Grande.

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