Dearborn giant not saying no, either.
While some electric vehicle startups continue to raise eyebrows, Lucid Motors is keeping its eye trained steadily on the future. With critics and observers concurring that their ‘Air’ prototype cars are true marvels from both an engineering and an aesthetic standpoint (and hailing the company as a proper Tesla contender in the luxury end of the market), the company is now seeking another round of funding to get their car to market.
A report by Automotive News details that the company has enlisted the help of Mogan Stanley to find funding to get the Air luxury saloon into production. While mention of Series D of funding has been circulating for some time, the report also cites sources that say the company has engaged in conversation with decision makers at Ford, with possible mention of a takeover.
While the idea of a Ford-Lucid tie-up is exciting, it’s worth mentioning that following the appointment of Jim Hackett, Ford is still at a stage of reviewing its business plans and priorities, which would push the possibility of acquisitions off for a while yet. Ford responded to these suggestions in a statement saying that they do not comment on speculation, but that they would not be averse to the prospect of a takeover in the future.
Lucid Motors has been very candid about its finances, unlike some of its competitors. Lucid CTO Peter Rawlinson said in April that it hasn’t yet secured all the financing necessary to break ground on its $700-mil production facility in Arizona just yet. “We don’t have the money in place, that’s why we need to secure Series D. It would be irresponsible to start moving earth or start anything until we have a financial runway to execute that professionally and with absolute integrity,” he said in a jab at a particular EV upstart.
Stay tuned to CarShowroom as we bring you more information as it comes.
