Ford Approached to Purchase Lucid Motors Setup, Sources Said

California-based EV setup Lucid Motors proposed a procurement by Ford, as per an  in Automotive News. The offered for a buyout happened while Lucid is looking for speculation to get its arranged Arizona producing plant up and running.

Lucid calls its first auto the Air, and expects to start producing this electric car in 2018.

More On The Air:

The Air would give Tesla’s Model S sound rivalry. The car is intended to exploit the conservative idea of electric drive parts, giving the inside space of a vast extravagance car in a smaller vehicle. In the meantime, Lucid is guaranteeing 1,000 torque and more than 300 miles of range. It as of late tried a model at 235 mph. Lucid has said it would offer the Air for $60,000.

Creating and assembling another vehicle takes profound pockets, and Lucid is as of now in its fourth round of gathering pledges, which it needs to construct its proposed Arizona producing office. Car News depended on unknown sources to report that work force from Lucid recommended the securing to Ford administrators. In any case, that approach was rebuked. As Ford’s new CEO, Jim Hackett is as of now inspecting his organization’s operations.

Lucid’s last round of financing brought $100 million up in 2014. The cost of the new assembling office will come to $700 million.