Lucid and Nikola file to raise additional cash


Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona.


Electric vehicle makers Lucid Group and Nikola are moving to raise additional funds, as both companies aim to boost production amid sharply rising battery costs and new federal regulations that limit incentives for EV buyers.

Nikola said in a regulatory filing Tuesday that it plans to issue up to $400 million worth of new stock in an “at-the-market” offering, meaning that the shares will be sold at prevailing market prices.

The Arizona-based maker of electric heavy trucks told investors during its second-quarter earnings call that it…


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