Looks like things are growing all around a Pinal County buys 1400 acres in Casa Grande area for Lucid expansion.

Lucid Group Inc. (Nasdaq: LCID) recently finalized development and lease agreements with Pinal County and the city of Casa Grande for an additional 1,400 acres, county records show.

The new agreements will bring the Lucid site to about 2,000 acres overall, or about the size of an OEM auto manufacturing campus for Lucid and potential suppliers, the county said. Through its expansion, the county said Lucid could hire more than 6,000 people at full buildout.

For the lease agreement, Pinal County purchased at least 1,400 acres of land from 14 property owners for approximately $113.5 million, according to Scottsdale-based Land Advisors Organization. Kirk McCarville and Trey Davis of Land Advisors facilitated the land assemblage and sale.

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Pinal County buys 1400 acres in Casa Grande area for Lucid expansion

It’s unclear what the total land sale price was based on county documents. The county said it used $115.65 million of a recently approved bond to buy the site, as well as some additional costs such as bond insurance premiums.

It is unsure what expansion will happen exactly. Either way, it would likely mean a JOB expansion for residents of Casa Grande, Maricopa and surrounding areas.

Current Construction & Expansion

Expansion Underway
As we can see from the video, there are three cranes currently assembling new buildings to increase factory’s size by 2.85 million square feet and give it the production capacity to match Lucid’s goals of producing 90,000 vehicles a year by 2023. The new buildings will house a powertrain plant, stamping plant, and general assembly space, along with other general-purpose buildings.

Unlike some folks on the internet, Buzaz is confident that Lucid isn’t moving the cars around the lot to make it look like production is higher than it actually is. Assuming this is the case, Buzaz counted 103 cars outside AMP-1, with 47 of those being new cars produced since his last drone fly-by. He also mentions finding three more that were hidden behind a building and obscured from the initial count.

Future Plans

Whether Lucid stays hits the targets set by these goals remains to be seen, but the company does have a record of meeting its own objectives. The company plans to expand to Europe and Saudi Arabia in 2022, followed by establishing a Chinese presence in 2023.

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