rmc523 Posted July 17, 2017 Share Posted July 17, 2017 (edited) https://www.bloomberg.com/news/articles/2017-07-17/lucid-motors-is-said-to-mull-sale-after-takeover-talks-with-ford Electric carmaker Lucid Motors Inc. is raising a new round of financing and is also considering an outright sale after holding early-stage takeover talks with Ford Motor Co., according to people familiar with the situation. The Menlo Park, California-based firm has hired Morgan Stanley to help raise more money to pay for further development of its vehicle and a new manufacturing plantin Arizona, the people said. They asked not to be identified talking about private company matters. Lucid approached the senior management of Ford about a possible sale, the people added. Ford is not looking for a deal at this time, one of the people said, as new Chief Executive Officer Jim Hackett is in the midst of a 100-day review of the company’s plans and priorities. "We don’t comment on speculation," Karen Hampton, a Ford spokeswoman, said in an email. A representative for Morgan Stanley didn’t immediately respond to a request for comment. In May, Ford’s board of directors ousted Mark Fields and installed Hackett, the former CEO of office furniture maker Steelcase Inc., who has ties to Silicon Valley and had most recently been running Ford’s foray into self-driving cars. The board was unhappy with the pace of change under Fields and the nearly 40 percent decline in the company’s share price on his watch. Ford is not ruling out a deal down the road, according to one of the people. The automaker has big plans to bring out plug-in cars and hybrids. It is spending $4.5 billion to electrify 40 percent of its lineup by 2020. Rival General Motors already has a long-range electric vehicle on the market. Edited July 17, 2017 by rmc523 Quote Link to comment Share on other sites More sharing options...
twintornados Posted July 18, 2017 Share Posted July 18, 2017 Wouldn't take much to change the Lucid logo to Lincoln..... 2 Quote Link to comment Share on other sites More sharing options...
rmc523 Posted July 18, 2017 Author Share Posted July 18, 2017 Wouldn't take much to change the Lucid logo to Lincoln..... That's true. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted July 18, 2017 Share Posted July 18, 2017 Lucid Motors may be less advanced compared to Ford's own electrification plans, That is why Ford ended the Truck Electrification JV with Toyota....... Quote Link to comment Share on other sites More sharing options...
Harley Lover Posted July 18, 2017 Share Posted July 18, 2017 That is why Ford ended the Truck Electrification JV with Toyota....... I've never heard that reason before? Do you have any details? Quote Link to comment Share on other sites More sharing options...
rmc523 Posted July 18, 2017 Author Share Posted July 18, 2017 I've never heard that reason before? Do you have any details? It was hybridization efforts for trucks, not electrification. Ford, of course, at NAIAS this year announced the hybrid F-150 (though nothing beyond that). This article was back on June 23 of 2013... http://www.autonews.com/article/20130723/OEM05/130729969/ford-splits-with-toyota-plans-own-truck-hybrid-system DETROIT (Bloomberg) -- Ford Motor Co. and Toyota Motor Corp. said today they would end a partnership to develop gasoline-electric systems for pickups and SUVs.Ford is on track to bring its rear-wheel-drive hybrid system to market later this decade, Raj Nair, the company’s product development chief, said by telephone. Toyota and Ford mutually agreed to end their collaboration after the research and development phase, he said. “Both parties gained from each other’s expertise and insight,” Nair said in the interview. “We’ve developed a lot of expertise in-house and determined we could deliver the system on our own.” Nair declined to be more specific on the timing. Quote Link to comment Share on other sites More sharing options...
chefduane Posted July 18, 2017 Share Posted July 18, 2017 (edited) https://lucidmotors.com/car That thing looks like Gort from "The Day the Earth Stood Still" or even maybe a Cylon from "Battlestar Galactica." Edited July 18, 2017 by chefduane 1 Quote Link to comment Share on other sites More sharing options...
rmc523 Posted July 22, 2017 Author Share Posted July 22, 2017 Recode’s source told a slightly different story, saying Ford’s new CEO, Jim Hackett — who has a Silicon Valley pedigree— had traveled to Lucid Motors on June 28 with a group of executives to discuss the potential acquisition. Ford even produced a term sheet, and is “still very much interested” in the deal, Recode reports. https://www.teslarati.com/lucid-motors-two-investors-buyout-rumors/ https://www.bizjournals.com/sanjose/news/2017/07/20/lucid-motors-ford-f-acquisition-tesla-tsla.html https://www.recode.net/2017/7/20/15999024/lucid-motors-ford-funding-tesla-electric-car Quote Link to comment Share on other sites More sharing options...
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