There might be a good reason why Lucid wants to partner with Ford
Warning: foreach() argument must be of type array|object, bool given in /home/mexiconow/public_html/sites/mexiconow/wp-content/themes/mexiconowwpnew/single.php on line 253
California-based electric vehicle startup Lucid Motors is considering to sale itself to Ford Motor Company in an effort to raise the US$ 700 million needed to build a manufacturing plant in Arizona with a supply chain running down to Sonora, Mexico.
According to Bloomberg, Lucid approached the senior management of the Dearborn-based automaker, but that offer was rebuffed, as Ford's new CEO, Jim Hackett, is currently in a 100-day review of his company's operations and at this point, acquisitions are not considered as priorities.
Last year Lucid unveiled plans to build an assembly plant in Casa Grande, Arizona, that will eventually employ 2000 people. Parts and components to come from suppliers in Sonora, Mexico. By 2022, total investment in the plant will reach US$ 700 million, according to Lucid manufacturing chief Brian Barron.
It is worth noting that the effort made by Lucid could be motivated by the fact that Ford already builds hybrids vehicles (Fusion and Lincoln MKZ) in Hermosillo, Sonora, just 355 miles south of Phoenix, Arizona. It is also plausible that both companies will end up sharing some suppliers once Lucid gets its manufacturing process running due to geographic advantages, whether they belong to the same corporation or not.
Even when Ford initially refused Lucid’s offer, is not entirely ruling out a deal, says Bloomberg citing unnamed sources familiar with the situation. The Michigan automaker plans to spend up to US$ 4.5 billion to electrify 40% of its lineup by 2020, while its rival General Motors has already full electric vehicles on the market.