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Blog Lucid Approached Ford in Buy Out Offer

Discussion in 'Electric Vehicles' started by TMC Staff, Jul 18, 2017.

  1. TMC Staff

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    #1 TMC Staff, Jul 18, 2017
    Last edited by a moderator: Jul 19, 2017
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    Lucid Motors has held early-stage takeover talks with Ford, according to a report from Bloomberg. The company is currently soliciting new financing and reportedly reached out directly to Ford about the possibility of a deal. But, it sounds like Ford isn’t ready to pull the trigger just yet, as new Chief Executive Officer Jim Hackett...
    READ FULL ARTICLE
     
  2. SageBrush

    SageBrush Active Member

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    #2 SageBrush, Jul 18, 2017
    Last edited by a moderator: Jul 19, 2017
    Lucid Motors reportedly in talks with Ford for a takeover of the EV startup

    This makes sense to me. It just seemed so improbable that Lucid would make it as a stand-alone company, but their actions as a start-up getting to the point of being an attractive acquisition for a doddering major sounds like a business plan.

    I wish them the best, but I don't have the appetite to buy their stock.
     
  3. RubberToe

    RubberToe Supporting the greater good

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    Maybe Lucid is seeing the result of being the "second mover" in a market where Tesla blazed the trail and reaped the rewards. Like the linked article says, there will be many more competitors out there by the time the Lucid car hits the road. Every other EV maker is angling for the crumbs left on the table by Tesla. And the crumbs are getting smaller and smaller every passing day.

    RT
     
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  4. SageBrush

    SageBrush Active Member

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    Elon mentioned the other day that Tesla is able to put out a prototype in 6 months with six people, but volume manufacturing ready for the market takes 5,000 people 3 years (and left unsaid: Billions of dollars.)

    Somewhat in retrospect, Lucid is a prototype company. I doubt they ever had a chance to be more, and perhaps in their hearts they knew this to be true. It would certainly fit the Silicon Valley M.O. to develop up to the point of cashing out through acquisition by an established corporate major.
     
  5. ecarfan

    ecarfan Well-Known Member

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    Now that Tesla's early success has clearly prodded the major car manufacturers into finally -- albeit reluctantly -- taking action and either improving their existing EVs (2018 Leaf significant range improvement), actually building a useful EV (Chevy Bolt, VW Golf, and Mercedes B Class) or announcing future EVs that look like they will become reality in a few years (Audi, VW, MB, Volvo, Jaguar, etc.) I don't see how another pure-EV startup company can succeed. Faraday Future has shown little indication that they were ever in touch with reality, Lucid was marginal at best, and Fisker remains unable to build a car with broad appeal, in my opinion.

    What all the other auto companies continue to ignore is the critical importance of a useful, properly designed high-speed DC charging network for long distance travel. Tesla is already years ahead in that regard and the other companies have done nothing meaningful. VW is only investing money in a US charging network because of the legal settlement of their NOX disaster, and whether that charging network will be properly designed and maintained is an open question. In Europe we may be seeing the start of a useful CCS standard network but I doubt it will be anywhere near as useful as Teslas large and rapidly expanding Supercharger network.
     
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  6. SageBrush

    SageBrush Active Member

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    I was thinking about this exact point earlier today. Did Lucid ever get around to saying what charging network the Air will accommodate ? I'll guess CCS, which probably explains their reluctance to expose the issue.
     
  7. JPP

    JPP Active Member

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    FWIW, a Lucid rep came to the recent TMC Connect in Monterey and gave a presentation/talk. As he did not address charging infrastructure, when the floor opened for questions, that was my question to him. And he was unable to answer/evasive. They have/had no plans to discuss as to how to address charging.
     
  8. BluestarE3

    BluestarE3 Active Member

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  9. TEG

    TEG TMC Moderator

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    Lucid rep said they were part of a German consortium (CCS?) that wanted to come up with a new plug standard for quick charging...
     
  10. malcolm

    malcolm Active Member

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    Once again, a chance for Ford to snatch defeat from the jaws of victory.
     
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  11. doug

    doug Administrator / Head Moderator

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    Can you elaborate? As far as I can tell Lucid is doing some good stuff. Certainly the odds are against them as they are for any new car company. An acquisition is probably their best bet.

    For Ford, you'd think they'd be able to build this tech in house, but their EV efforts have really felt like baby steps, so it might be good for them as well. But as the article states, Ford isn't quite biting yet. So what defeat and what victory are you talking about?
     
  12. malcolm

    malcolm Active Member

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    #12 malcolm, Jul 19, 2017
    Last edited: Jul 19, 2017
    Just feeling pessimistic that Ford will fail to make the most of this opportunity, that's all.

    They shouldn't do, unless they see VW's drive toward electric drivetrains as just another type of defeat device -I.e. failing to grasp it's significance and just seeing electric motors and batteries as a nip/tuck for the ICE.

    The Lucid Air really is the closest thing we've seen to that most-hyped of automotive concepts - the "Tesla Killer".

    Are Ford going to make it happen or are they going to show a cool concept but then ship slower, over-engineered hybrids like everyone else?
     
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  13. Bebop

    Bebop Member

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    I see Lucid as an acquisition play from a start-up pov hands down. It would be a hell of a lot more easier than to do what Tesla did from the ground up.

    I would question someone like a Ford though...I dunno. I feel like they should be bought out by a higher end brand. It's not like the Lucid car is a mass consumer vehicle.
     
  14. RobStark

    RobStark Active Member

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    Ford is not just a brand but an automaker.

    And that is exactly why they should buy Lucid.

    It is additive. It does not overlap existing product or customer base.

    Could you see someone paying $60k-$150k for a Lincoln EV? or a Ford Vignale EV in Europe?

    Once they have a compelling $150k EV on dealer lots they have a lot more credibility when marketing a $30k long range EV.
     
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  15. vinnie97

    vinnie97 Member

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    Faraway Future, now Lucid. Can't help but say I saw this exit coming, though I know there were many idealists already lined up for their reservation here months ago. Save us, Elon Wan Muskobi, you're our only hope.
     
  16. 22522

    22522 Active Member

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    I've always thought the Lucid looked a bit like a Ford product, maybe on purpose?
     
  17. EinSV

    EinSV Active Member

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  18. voyager

    voyager Member

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    That's a risky strategy. Since Ford is the approached party, it might as well pass the deal. Lucid will never be able to get their backers' money back.
     
  19. Alketi

    Alketi Member

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    Ford and Chysler have no discernable EV plans whatsoever. They're the last two at the dance of musical chairs. When/If the Model 3 demand becomes both apparent and undeniable I have no doubt that they'll both make acquisitions, announce their own programs, or go down with the ship.
     

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