COVID-19 Causes Lucid To Push Production Of The Air To Second Half Of 2021

As per a letter in the company’s CEO Peter Rawlinson delivered out to investors and customers, production of this Lucid Air has been delayed.

Rawlinson includes the delay to the continuing COVID-19 pandemic. The CEO reported that regardless of the company’s tough work, the wide-ranging impacts of this virus have led to delays at every stage of development, from analyzing to provide to preparing for earnings.

“As a business we’ve worked tirelessly to minimize those influences, and within the last year, Lucid has witnessed significant progress and growth,” said Rawlinson. “We know we won’t be in a position to start delivering Lucid Air this spring in the level of quality we insist on providing. ”

Read: Lucid Is Officially Going Public At A 24 Billion Valuation

Even though the automaker previously declared that deliveries could start in spring 2021, it now expects series production to start in the next half of this year, although an specific launch date for the electrical sedan hasn’t yet been mentioned.

With enough juice to go more than 500 miles, the Lucid Air is one of the longest-range EVs intended for imminent release. The brand is promoting itself as a luxury manufacturer and considers that will differentiate it from rival Tesla, which it predicted “revolutionary although not luxury” in a slide revealed to investors lately.

Before that month, Lucid showed off its Arizona factory . Moreover, this week it declared it is merging with specific purpose acquisition company Churchill Capital IV (CCIV) in a deal that sets its valuation at $24 billion, and will go public, which ought to generate approximately $4.4 billion in cash for the company.

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