Lucid Motors reportedly wants Ford to buy it

EV maker wants to produce cars by 2019, is raising money to get factory up and running.

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Update: Representatives from Lucid Motors and Ford sent us statements regarding this story. Ford's representative said, "While we regularly speak with other companies inside and outside of the auto industry, we do not comment on speculation." The Lucid spokesperson said, "We cannot discuss details of our Series D fundraising or comment on rumors." He did add that fundraising is "going well," though. The text has been updated to reflect these statements.

Electric car company Lucid Motors recently brought a proposal to Ford to have the Dearborn-based car company buy Lucid, according to Bloomberg. The news service's anonymous sources also said Ford is currently not interested - but didn't completely rule out the idea. We've reached out to both Ford and Lucid Motors for comment, and both companies would not comment on the reported purchase discussion.

According to the report, this idea comes during Lucid's latest round of fundraising, called "Series D," and a Lucid representative said that fund raising is "going well." The company previously said that it would begin work on its factory following this round. The initial investment to get the factory up and running is estimated at $240 million, and Lucid expects to invest a total $700 million by 2022.

Lucid intends to start producing the Air luxury sedan in 2019, so the factory would clearly have to be ready before then. The Air will be available in versions starting with a 400-horsepower, 240-mile range variant starting at $52,500, counting the federal EV tax credit. The top-end model, meanwhile, will have 1,000 horsepower and a range of 315 miles. Prototypes of this high-performance model have reached speeds of 217 mph with a limiter, and 235 mph without.

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