Money

LUCID MOTORS SECURES $1 BILLION INVESTMENT TO KICKSTART PRODUCTION FOR FIRST ELECTRIC CAR

Do you like Electric cars? Well it’s this new company called Lucid Motors and they might be around for a long time despite passed rumors and other setbacks. The Electric car startup Lucid Motors secured a $1 billion investment to kickstart production of its first electric car. It has some super dope charge up in 20 minutes type of vibe when you purchase the Lucid air which purports 400 miles, so that’s pretty cool one might think. 

 Lucid said on Tuesday that it’s teaming up with Volkswagen’s electric charging company, Electrify America, which will provide owners of its first production car a nationwide “ultra-fast” charging network. That’s a power move in itself. Lucid is leaning on the investment already being laid by Electrify America god willing has more than 2,000 chargers installed at 484 sites across 40 U.S. states by the end of 2019. Lucid expects production of its first all-electric sedan, the Air, to begin in 2020. 

Now, Lucid says it’ll have the funds to get a factory up and running and start pushing out the Air to its first customers by 2020. And they’ll have the charging infrastructure to support their vehicles. It sure seems like smart planning on Lucid’s end.

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