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Ford Passes On Buying Lucid

(Credit: Lucid Motors)

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Ford Passes On Buying Lucid

Apparently, electric car startup Lucid was hopeful the Blue Oval would buy it out. With the financial might of Ford, this other California automaker would’ve been better equipped to take on Tesla. At least this is what Bloomberg is reporting, and the revelation is shocking some people.

Apparently, the big sticking point for Ford is that it’s reassessing everything. With Mark Fields out as CEO, and the company in a downward spiral for sales, everyone at Dearborn is awaiting new marching orders. This could completely change the direction of the company.

Before you think this means there’ll be no deal, Bloomberg is reporting that Ford is reserving the right to consider it after this internal review. Instead of just waiting for the other automaker, Lucid is back to the grind, trying to drum up funds so it can bring the Air to market. The big objective right now is to get the production facility in Arizona ready. That alone should cost about $700 million.

Unlike Tesla and Faraday Future, Lucid isn’t looking to play loose and fast with finances. It won’t even begin construction on the factory until it has the money in hand. It will need to get the cash quick, if it wants to put the Lucid Air on the market by 2019.

Steven has been writing about cars and other transportation issues worldwide for over ten years. His love for cars started long before he can remember, with Corvettes and 911s being his first car-crushes. Since then, he has owned many types of vehicles and has come to appreciate a wide variety of models, the diverse car culture groups, and the automotive industry in general.

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