Electric car startup seeks funding for $700M factory in Casa Grande
In an effort to challenge Tesla, much-smaller rival Lucid Motors is seeking funding to build a $700 million electric vehicle factory in Arizona.
The Menlo Park-based company is in the midst of its Series D round, Lucid Chief Technology Officer Peter Rawlinson, a Tesla veteran, told the Motley Fool. The company has already raised $131 million to date from backers, including the China Environmental Fund, Jafco Life Science, Mitsui & Co and Venrock.