In January 2017, Lucid Motors declared plans of breaking the floor on Casa Grande for their assembly plant, however, lack of funding has impeded the manufacturing of their luxury sedan until a declaration the company made last week.
After almost three years, the Tesla rival has finally confirmed that the local Planning and Zoning Commission of the Arizona city authorized its multi-year site program on November 6. Land grading has already started in September, and the corporate estimates that production will begin before the end of 2020.
The land the Lucid Motors secured is a 500-acre site that is bought by Pinal Nation for $29.4 million by way of bond issues, and it is leased to the startup firm for $1.8 million per year. The forecast for the plant the corporate plans to construct is around $700 million. The Silicon Valley Business Journal had reported the figures.
Atieva, the parent firm of Lucid, could not get the funding to get Lucid Air, the premier electric vehicle (EV) that the corporate launched in 2016, in the line of production. However, with a $1 billion investment from Saudi Arabia through the dominion’s sovereign wealth fund last year, points regarding its eventual roll-out dissolved.
Lucid Air claimed to have a range of 400 miles with a top speed of 200 mph. It will possibly also speed up as much as 60 mph from a dead stop. The EV competitors the Tesla Model S with an interior that boasts extra of a luxury feel than the Tesla. To date, it is the only model that the corporate manufactured.
In July, Lucid Motors hired a former VP of production for Tesla, Peter Hochholdinger. Hochholdinger will tackle the role of VP of producing for Lucid Motors.