learningandfinance.com


Business

Electric car factory planned in Arizona to have 2000 workers

Share

Faraday Future, another electric auto maker, is building a factory near Las Vegas after getting $335 million from the state, although the project has been stalled amid questions about its funding source. Lucid anticipates rolling out its first model by 2018, a four-door sedan with 1,000 horsepower that would compete with Tesla electric cars.

Gov. Doug Ducey announced Tuesday that start-up carmaker Lucid Motors plans to spend $700 million on the factory over the next six years, with building set to start next year. The company projects the plant will have 2,000 workers by 2022.

"It's a real sign that the state is attractive, that California companies and companies from around the country see Arizona as a great place to do business", Ducey said. "We were impressed that Gov. Ducey made a trip to California to meet our team and was so accessible when we were in Arizona".

Arizona offered tax breaks that start at $5 million and could hit $70 million, depending on the company meeting hiring and other goals, according to Sandra Watson, CEO of the Arizona Commerce Authority.

Electric vehicle company Lucid Motors was all about its home state of California at the Los Angeles Auto Show a couple of weeks ago.

Ex-NFL Star Sharper Faces Final Sentence in Drugging Rapes
One woman told LAPD detectives about an October 30, 2013, incident at a Century City hotel, according to one of the reports. The Times reports that the Los Angeles-based sentence will be served "at the same time as others around the country".

'Country needs strong Ukip more than ever', says new leader
It was UKIP's second leadership election this year, previous victor Diane James having quit after 18 days in the role. He said the party's new leader will be targeting the region after taking over the reins from Nigel Farage.

Gotham costars Ben McKenzie and Morena Baccarin are engaged
" Gotham " stars Ben McKenzie and Morena Baccarin are reportedly engaged! A source told the outlet, "They are very happily engaged".

Tesla has struggled to turn a profit despite huge demand for its Model X and more affordable Model 3.

Backed by Chinese investors, the company - known as Atieva until a name-change in October - has been around since 2007, building up capital and developing the technology for its batteries and cars. "The car's not going to be in production until quite a ways out".

"We know we've got to raise more money and we're in the process of other fundraising rounds", said Brian Barron, Lucid's manufacturing director. Faraday has stopped paying millions of dollars in bills due and work has ceased at its barren factory site northeast of Las Vegas. Two alpha prototypes in camouflage were at the announcement to showcase the company's technology miniaturization prowess.

On Monday, though, Rawlinson was in Casa Grande, Ariz., announcing that Lucid will build its cars in the Grand Canyon State.

Share