Report – Lucid Motors and Ford might be in talks image

Interestingly enough, electric carmaker Lucid Motors is not only looking for more financing to fulfill its dreams of competing on the same level with Tesla, but it’s also considering a direct takeover procedure.

That’s according to sources that have knowledge of the matter, so we better not hold our breath it actually happens. Anyways, it seems that besides raising a new round of financing, Lucid Motors is also considering a takeover proposition from Ford – the automaker that has been changing its management strategy as of late. The Menlo Park, California-based Lucid Motors has so far requested assistance from Morgan Stanley for the funding round, needed to develop the Air electric sedan and also develop a manufacturing facility in Arizona.

More so, Lucid itself went to Ford and asked them to hold talks about a possible sale – but it seems they hit a deadlock because the company is trying to find its way, with new Chief Executive Officer Jim Hackett in a 100-day review of the company’s strategy. First established back in 2007 under a different name, Lucid is looking to bring its first model – the Air sedan – to market sometime in 2019, and is looking to complete development by that time. As a reminder, the company recently revealed it hit 235 mph during testing with one of the Air prototypes.

Via Bloomberg