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From Electrek: Lucid Motors reportedly in talks with Ford for a takeover of the EV startup

Discussion in 'News from Electrek.co' started by RSSFeed, Jul 18, 2017.

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  1. RSSFeed

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    Lucid Motors reportedly in talks with Ford for a takeover of the EV startup

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    Lucid Motors keeps impressing us with its all-electric sedan under development, the Lucid Air, which recently reached a 235 mph (378 km/h) top speed on the track.

    But the company’s efforts to bring the vehicle to market seem to be moving slowly. After announcing its EV factory to be built in Arizona back in November 2016, nothing has moved as the company is reportedly trying to raise the $700 million needed to build the plant.

    Now they reportedly shifted their strategy to look into the potential sale of the company and they are said to have been holding talks with none other than Ford. more…

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  2. garsh

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    That would give Ford's electric vehicle program a decent jump-start.
    And Lucid isn't long for this world without a major cash infusion.
     
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    • Dan Detweiler

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      Could possibly put Ford right in the middle of the contenders for EV market share, although making only a 130K low production model isn't going to cut it after the Model 3 is in full ramp.

      Dan
       
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      • ModFather

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        If Ford does participate in the Lucid Air project, it will be like the Ford GT - a pretty face, novelty car with a very limited market. I want to see Ford/Lucid develop a real "Model 3 killer" at a similar or better price point. Competition is good for both the manufacturers and the environment.
         
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        • TrevP

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          At the very least it will give them a boost in the EV engineering department. Lucid is partly backed by the same guy at LeEco and Faraday Future, both in huge financial troubles so selling themselves is the only way to keep things alive, at least in principle.
           
        • Bryan Baker

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          This is a much better deal for Ford than for Lucid.

          As someone who would love to buy a Lucid Air, a buyout by Ford maximizes the probability that it will be produced, which potentially serves my interests. Except that Ford will treat the current design as an aspirational prototype and in re-designing for manufacture, will dilute the design features so much as to make the car a luke-warm, ghostly shell of the original.

          So I'm holding my breath for a successful financing round leading to continued independence and self-manufacture.

          Also, a buyout by Ford merely punts an impending bankruptcy, as all OEMs will go bankrupt for lack of getting onboard w/ the electric/autonomous car disruption curve: even if by some miracle they start designing and manufacturing them (like w/ this potential deal) their dealerships won't sell them and buyers will still be wary w/out a nationwide quick-charging network.
           
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          • ModFather

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            You will run the risk of turning blue! :confused: Ford will not throw money at a company that has shown that it cannot get its act together as an independent. Ford has its own financial problems for a future dominated by EVs. If Ford should by out the company, to make the original investors whole, they will make substantial changes to what is now merely a concept car, to make it fit Ford's idea of what can sell. In my opinion, Ford doesn't have the foggiest idea of what it takes to make a viable EV with supporting charge infrastructure. Companies like Lucid and Fisker are "hobby companies" who don't have the vision to make it as a viable EV contender. It's a non-starter.
             
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            • dudeman

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              It seems to me that at least some of these companies are started/run in the hopes of someone big acquiring them later and resulting in windfall for investors. It works in tech, not sure if its going to work in auto industry.
               
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