Lucid Air Moves Ahead With the Help of Saudi Investors

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The Lucid Air Moves Ahead

It’s been nearly 2 years since the Lucid Air was unveiled at a company event in Fremont, CA. You, like many of us, may have thought; ‘Now here is a true competitor for the Tesla Model S!’. Production was set to begin in 2019 and Lucid began taking reservations.  And despite enthusiasm for such an obviously well designed car,  the Air seemed to have lived up to its name and vanished into the sky. Fast forward to 2018 and we’ve hardly learned more since the Air’s initial unveiling, until now.

This week Saudi Arabia confirmed they have invested $1 Billion in Lucid Motors. At first thought, that is a staggering amount, but why does Lucid Motors need such a heavy investment? News of the deal has cleared up a few questions about Lucid. Mainly, why have we heard so little about the Lucid Air and why has it not begun production already?

Lucid Motors’ Long Road

When Lucid, formerly Atieva, hit the scene a couple years ago they had an ambitious plan: Expand their headquarters, open a $700 Million factory in Arizona and mass produce a luxury sedan capable of competing with the Tesla Model S. They hired former Tesla Model S engineer Peter Rawlinson and in December of 2016, revealed their masterpiece, the Lucid Air. But it wasn’t all smooth sailing and Lucid was struggling to maintain cash flow while building their empire. As a result, it seemed that Lucid was playing coy, giving us vague snippets and spottings of the Air around the San Francisco Bay. As it turns out Lucid was holding steady while working to secure funding and their efforts paid off, to the tune of $1 billion dollars.

Lucid Air Heading Toward Production

With funding secured, the Lucid Air can move ahead to production and is expected to makes its entrance into the car market in 2020. Now to decide; Will your next EV be a Tesla Model S or a Lucid Air?

 

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