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Lucid Motors CEO targeting factory expansion in China, Middle East

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Lucid Motors CEO Peter Rawlinson told CNBC’s Jim Cramer on Tuesday that the start-up has plans to build factories outside the U.S.

The California-based electric vehicle maker’s flagship facility is in Casa Grande, Arizona, where the company started commercial production in September. Initial deliveries of the “Dream Edition” of Lucid’s Air sedan began late last month, an important milestone for the company in the increasingly competitive EV market.

“Mid-decade, we plan to have plants in the Middle East and China, as well,” Rawlinson said in an interview on “Mad Money.”

China is home to the world’s largest auto market, and electric-vehicle pioneer Tesla opened a factory in the country in…



Source cnbc.com

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