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Fresh off of its $1 billion funding injection, Lucid Motors has announced a preliminary agreement with Electrify America. The electric-car startup plans for a network of fast chargers for future owners to take advantage of.
In the Tuesday announcement, Lucid said it plans to install or have over 2,000 DC fast charging stations under construction by June 2019. Electrify America will handle installation in 500 sites across metropolitan areas spanning 40 states and 17 major cities. Lucid’s decision to partner with Electrify America came after studying multiple companies.
Electrify America is a VW subsidiary set up following the aftermath of the German automaker’s diesel scandal. Electrify America will invest $2 billion in charging infrastructure across the United States over the next 10 years, as well as in electric car education. VW-operated Electrify America operates chargings stations with amenities such as shopping, food, and restrooms. Lucid said the amenities are exactly the type of experience it wants to give owners.
After months of struggles, Lucid finally landed on its feet after it secured $1 billion in funding from the Public Investment Fund of Saudi Arabia. The fund’s goal is to expand and differentiate Saudi Arabia’s doing globally as it attempts to wean its economy off of simply oil exports. The money will help put the company’s first electric car, the Air sedan, into production sometime in 2020. The funds will also finance a factory in Casa Grande, Arizona, and help finalize a retail strategy in North America.