Electric car company Lucid applies for $8 billion in financing: supply chain problems have affected production

On the morning of August 30, Beijing time, it was reported that electric car company Lucid had applied to raise up to 8 billion US dollars. It is reported that the company's supply chain problems have affected production at this time, Lucid hopes to further enrich its working capital.

Lucid, which currently has a market capitalization of about $27 billion, cut its production target by half earlier this month, mainly because of supply chain and logistics challenges. Shortage of components and soaring prices of raw materials have affected electric car startups, which are trying to control costs and spend a lot of money to put cars on the market.

In order to raise funds, Lucid will issue a variety of securities, whose size, price and terms will be determined at the time of issuance.

Lucid CEO Peter Rawlinson (Peter Rawlinson) said last year that the company had raised $4.4 billion and would not be short of money until the end of 2022, but that the company would not wait until then to refinance.