Lucid Group has started production of its first electric car, with deliveries to begin at the end of next month, and the company will initially focus on the limited-production “Dream Edition” of the Air model, with a value of 169,000 dollars, which can travel a distance of $ 169,000. The company said in a statement: The first battery-powered electric car destined for customers rolled off the factory line in Casa Grande, Arizona, and the startup is based in Newark, California, and the company pledged to manufacture a range of cars that can outperform Globally, and earlier, the Saudi Public Investment Fund said: It agreed to invest more than one billion dollars in Lucid Motors to produce electric cars, and that this financing will enable the Silicon Valley-based Lucid Company to launch the commercial launch of its electric car Lucid Air, to join the Mercedes-owned company. Daimler, BMW and Volkswagen’s Audi and Porsche units compete for dominance in the battery-powered car market.
The investment in Lucid comes as part of Saudi Arabia’s efforts to build an environmentally friendly economy and reduce its dependence on oil. “They are not just a financial partner, but a strategic ally,” Peter Rawlinson, director of technology at Lucid said about the Saudi fund. 1,000 Air reservations have been ordered, and the company is beginning to expand its plant in Arizona, with plans to add 2.85 million square feet of space to increase manufacturing capacity.