LUCID MOTORS, Sign’s Peter Hochholdinger As Head.!

LUCID MOTORS SIGN’S PETER HOCHHOLDINGER AS HEAD OF MANUFACTURING OPERATION

An electric vehicle startup also known as ‘Lucid Motors’, and is also backed by Saudi Arabia sovereign wealth fund, has employed ‘Peter Hochholdinger’ in order to head manufacturing operations with Lucid Motors. This came days after news leaked concerning the automotive executive, regarding him leaving Tesla Company.

 According to a twitter upload concerning the press release from ‘Lucid motors’, “We are excited to welcome Peter Hochholdinger, Vice President of Manufacturing, to the Lucid team”.

Reports have it that Mr. Hochholdinger was once an executive at Audi for more than two (2) decades before joining Tesla as a production executive in the year 2016. However, he oversaw Tesla’s Tilburg facility in the Netherlands, its vehicle factory in Fremont, California coupled with its casting site at Lathrop. Before joining Tesla, he was a senior director of production for Audi A4, Audi A5 and Audi Q5 respectively.

Considering the function of Mr. Hochholdinger with Lucid, the veteran is deployed to lead Lucid’s global manufacturing operations, first with its planned factory in Casa Grande, Arizona. And will equally oversee the manufacturing engineering process.

It is understood Mr. Hochholdinger’s departure would mean a lot for Tesla, while in another dimension, good news for lucid motors. Though it came at a crucial time for both companies, as Tesla embarks on its next model vehicle known as Model Y, meanwhile, Tesla had struggled in the past couple of years to remove bottlenecks in the production of its Model 3 according to reports.

As lucid, plan to design its first electric vehicle, it will need the institutional knowledge that Mr. Hochholdinger had gained over the years as the company aim at its first vehicle production, known as the Lucid Air coupled with its future models. It is also understood, lucid aim to compete favorably with Tesla, while the company is at the verge of producing its first electric car.

 Lucid as a company was established ten years ago, though with a different name and mission. According to history, the company was known as Atieva which focused on developing electric car battery technology, but in the long run, it shifted from car battery to electric car production and had its name changed in 2016.

The company’s (lucid motors) factory to be built in Arizona will cost seven hundred dollars million ($700 million) and had also signed a deal with Samsung SDI to be the sole supplier of its lithium-ion battery as it plan to move into its new factory. The company had quietly sought for the fund and eventually got one billion dollars ($1 billion) investment from Saudi’s sovereign wealth fund.   

• What does this mean for lucid motors?