Lucid plans to use the funding to complete engineering development and testing of the Lucid Air, construct its factory in Casa Grande, Arizona, begin the global rollout of its retail strategy starting in North America, and enter production for the Lucid Air.

Lucid’s mission is “to inspire the adoption of sustainable energy by creating the most captivating luxury electric vehicles, centered around the human experience. The convergence of new technologies is reshaping the automobile, but the benefits have yet to be truly realized. This is inhibiting the pace at which sustainable mobility and energy are adopted.” [Sounds like a struggling Tesla which still can’t make promised volumes – AutoCrat.]

“At Lucid, we will demonstrate the full potential of the electric connected vehicle in order to push the industry forward,” claimed Peter Rawlinson, Chief Technology Officer of Lucid.

So here comes (maybe) another global luxury electric car company based in Silicon Valley. “Lucid will work closely with PIF to ensure a strategic focus on quickly bringing its products to market at a time of rapid change in the automotive industry.”