Lucid Motors reportedly talking with Ford

Lucid Motors, which is producing all-electric luxury sedan the Lucid Air, is reportedly talking with Ford.

The company last year said it would be building an EV factory in Arizona, USA, and is trying to raise US$700 million (NZ$953m) for it, Electrek reports.

Now overseas media are speculating that Lucid Motors may be considering selling the company, and talking to Ford.

“Electric carmaker Lucid Motors Inc. is raising a new round of financing and is also considering an outright sale after holding early-stage takeover talks with Ford Motor Co., according to people familiar with the situation,” Bloomberg says.

The start-up allegedly approached Ford.

Electrek says from an EV enthusiast’s view, it would be great news if it goes through.

Lucid Motors developed an impressive vehicle programme with the Lucid Air and needs to bring it to market. Ford’s expertise and capital could make the difference here, Electrek says.

It says Ford could sell its EVs under Lucid’s brand.