The electric carmaker Lucid Motors has announced that it’s completed the first phase of its $700 million production factory in the US state of Arizona that it began constructing in December 2019. The factory is where Lucid will manufacture and roll out its Lucid Air vehicles, starting with a manufacturing capacity of 30,000 units annually and then working towards up to 400,000 each year.

The first phase of Lucid’s factory cost $300 million to build, representing a significant investment from the company into the state of Arizona. The just-completed initial phase spans 999,000 square feet and is the first out of four planned phases that’ll at the end increase its size to 5.1 million square feet. Lucid plans to still continue construction work on the factory till 2028, doing so as it simultaneously makes and sells vehicles to customers.

With the first phase of its factory completed, Lucid says it’ll begin rolling out cars in Spring of 2021 to supply global markets, beginning with North America. The company formally unveiled its first electric vehicle called the Lucid Air this September, being a premium sedan that’ll come in four model ranges priced from as low as $69,900 to as high as $169,000.

Lucid Air.

Lucid is among a cohort of well-funded relative newcomers to the electric car market that are looking to capitalize on increasing demand for electric cars. The electric carmaker has raised a total of $1.1 billion over the years, most of it from a single investor which is Saudi Arabia’s Public Investment Fund.

Lucid is notably led by a CEO who previously worked at Tesla and was the Chief Engineer for its Model S car. Peter Rawlinson by name, he joined Lucid as Chief Technology Officer in 2013 and was appointed as Chief Executive Officer last year.

Photo(s) credit: Lucid Motors

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