Lucid is once again growing its real estate footprint with the acquisition of a 60,000+ square foot facility seven miles down the road from its headquarters in Newark, California.
Located in Fremont, Lucid rented the entire facility at 44259 Nobel Drive in May reports Sarah Klearman of the San Francisco Business Times, citing two sources who requested to remain anonymous. Medical tech company Intuity Medical has been the facility's tenant since 2021 but put it up for sublease in the spring. That's when the real estate investment trust that own the building, Prologis, stepped in and took possession of the space before leasing it to Lucid.
Lucid's lease reportedly runs through to 2030, though it's not clear at this point exactly what the EV manufacturer plans to do with the building. The facility had been advertised by Intuity as a research and development space, part of an estimated 17 million square feet of commercial space earmarked for such purposes in Fremont according to Klearman.
Lucid's real estate holdings continue to grow with the headquarters in Newark, 5,000,000 square feet of manufacturing space at AMP-1, AMP-2 well underway in Saudi Arabia, its network of Studios and Service Centers in locations across North America, Europe and coming to the Middle East, plus the upcoming Chinese expansion. Lucid it seems remains dedicated to forging ahead and achieving profitability, especially with the upcoming Lucid Gravity SUV which should be a better seller than the Air.
James Walker is an Automotive Journalist at Torque News focusing on Lucid Motors. If it's got wheels he's interested, and he's looking forward to seeing what kind of cars the EV revolution brings us. Whether it's fast, slow, new, or old, James wants to have a look around it and share it in print and on video, ideally with some twisty roads involved. You can connect with James on Twitter, Instagram, and LinkedIn.