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Lucid Motor has recently announced that the first phase of the Arizona EV factory construction is finally completed. Eventually, they are planning to produce all the way up to 400,000 EVs every single year at the known facility after certain future expansions. Earlier this year, the electric car setup impressed a number of people with the unveiling of the Air electric sedan. This is said to be the company’s very first car that is capable of going all the way up to 517 miles in a single charge.
Lucid Motor $700 million factory
According toÂ Electrek, the vehicle has actually been delayed twice in the past. As of the moment, however, the market is now looking to deliver with a really serious production capacity to be launched. The Air is said to be built within Lucid’s new factory which will be called the “Lucid AMP-1 factory” located in Casa Grande over in Arizona.
After delays due to the initial lack of financing, Lucid has finally broke its ground on the project last year and they are now announcing that the construction has been completed. Peter Rawlinson, the current CTO and CEO of Lucid Motor gave a statement. It was said that they had broken ground back on the 590-acre Lucid AMP-1 site over in Casa Grande over in Arizona on December 2, 2019.
This was slightly less than a year later and they have finally completed the first purpose-built EV factory over in North America.
Lucid Motor plans to launch Lucid Air
The effort as well as the agility demonstrated by this team is truly astounding, according to the article by Electrek. It was stated that they have already commissioned the equipment compatibility.
This was along with the Lucid manufacturing system in order to start the production of the next-generation EV, the Lucid Air, in only a few months. While there is currently some machinery seen deployed at the factory, there is still going to be a lot of work that has to be done inside for it to reach production.
They are now said to be “transitioning to the construction” of the factory’s very own final series of the production-representative version of the new Lucid Air. Initially, Lucid is actually planning to reach a capacity of a massive 30,000 vehicles in a single year, but they are still planning future expansions of all the way up to 400,000 EVs per year.
According to an article by The Verge, the factory is said to cost $700,000. Just like a lot of other EV startups, the new Lucid Motors had almost run out of money while attempting to build the known Lucid Air.
It then took out loans from a hedge fund as well as a Chinese bus company for it to stay afloat and had ultimately received a huge $1 billion lifeline from the known Saudi Arabia’s Public Investment Fund.