Lucid Motors plans to build factories outside the United States, including in China, the world’s largest automotive market.
(Image credit: Lucid Motors)
Lucid Motors plans to build plants outside the United States, including in China, the world’s largest auto market, the US electric car company’s CEO Peter Rawlinson told CNBC’s Jim Cramer on Tuesday.
“Mid-decade, we plan to have plants in the Middle East and China, as well,” Rawlinson said.
Earlier this month, Lucid delivered its first electric vehicles to customers. Rawlinson said Lucid plans to produce about 575 electric vehicles by the end of this year and ramp up production to 20,000 by 2022.
“I think the world recognizes we’ve got an amazing product,” Rawlinson said. “I think everyone realizes what I’ve been promising would be the best car in the world. It’s true. It’s happened.”
China is the world’s largest car market, and Tesla has set up a factory there in 2019.
Rawlinson’s comments came a day after Lucid reported its first quarterly results since going public. The company jumped about 24 percent on Tuesday, surpassing Ford Motor in market value.
