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Search resuls for: "Sean Mclain"


5 mentions found


☆ Lucid to Raise Up To $1.5 Billion on Share Sales
  + stars: | 2022-11-08 | by ( Sean Mclain | ) www.wsj.com   time to read: 1 min
LOS ANGELES—Lucid Group Inc. said it may raise up to $1.5 billion through the sale of stock to fund future operations, as the electric-vehicle maker increases factory spending to push out more cars. The EV startup disclosed the fundraising plans in regulatory filings after it said third-quarter losses grew from the same period a year earlier, to $670.2 million. Lucid has been spending more money to boost factory output as it strains to produce cars to satisfy a 34,000-reservation wait list, the company has said.
☆ Lucid To Raise Up To $1.5 Billion on Share Sales
  + stars: | 2022-11-08 | by ( Sean Mclain | ) www.wsj.com   time to read: 1 min
LOS ANGELES—Lucid Group Inc. said it may raise up to $1.5 billion through the sale of stock to fund future operations, as the electric-vehicle maker increases factory spending to push out more cars. The EV startup disclosed the fundraising plans in regulatory filings after it said third-quarter losses grew from the same period a year earlier, to $670.2 million. Lucid has been spending more money to boost factory output as it strains to produce cars to satisfy a 34,000-reservation wait list, the company has said.
☆ Foxconn Plans to Invest $170 Million in EV Truck Maker Lordstown Motors
  + stars: | 2022-11-07 | by ( Sean Mclain | ) www.wsj.com   time to read: 1 min
Foxconn Technology Group, the world’s biggest contract manufacturer for electronics, is deepening its investment in Lordstown Motors Corp., a once-troubled EV startup that recently began building its first all-electric pickup truck at a former General Motors Co. plant in Ohio. The two companies said Monday that Taipei-based Foxconn plans to spend $170 million to buy both common stock and newly created preferred shares, providing Lordstown Motors with a fresh injection of capital as it works to increase production of its debut model, the Endurance.
☆ Renault-Nissan Talks Hit Snag Over Intellectual Property, Other Issues
  + stars: | 2022-10-31 | by ( River Davis | Nick Kostov | Sean Mclain | ) www.wsj.com   time to read: 1 min
Renault SA and Nissan Motor Co. are struggling to nail down a deal that would reshape their alliance, with intellectual property among the sticking points, according to people with knowledge of the talks. Discussions so far between Renault and Nissan have outlined a plan under which the French auto maker would reduce its current 43% stake in its Japanese partner to 15%, people at the companies said. The shares to be disposed of would be put into an independent financial trust and then sold at a later date at a predetermined price, the people said.
☆ The Man From Rivian Who Wants to Change How We Buy Cars
  + stars: | 2022-09-17 | by ( Sean Mclain Photographs Stephen Voss For The Wall Street Journal | Sean Mclain | Stephen Voss | ) www.wsj.com   time to read: 1 min
Jim Chen, the chief lobbyist for Rivian Automotive Inc., one of the most ambitious electric-vehicle startups, wants to change how people buy cars and trucks. He had some success making that happen last decade at Tesla where he made it easier to purchase models directly from the manufacturer. Now he faces new resistance from a powerful political group: local car dealerships. In the state of Washington, opposition from those dealerships sank a proposal pushed by Mr. Chen that would have allowed electric-vehicle manufacturers to sell from their own stores and bypass dealers. Another potential piece of legislation in Connecticut also died this year.
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