Lucid Motors passes Ford’s market cap four years after it nearly got bought

lucid motors passes ford’s market cap four years after it nearly got bought

Photo by Andrew Hawkins / The Verge

Four years after Ford was reportedly considering buying Lucid Motors, the EV startup is now worth more than the Detroit automaker. Lucid Motors’ market capitalization passed Ford’s on Tuesday, one day after the startup reported its first quarterly financial results as a publicly traded company and just a few weeks after it started shipping its luxury electric sedan, the Air.

Lucid Motors has a comparatively long history for an EV startup as it was founded in 2007 as a battery company called Atieva. But after a 2016 pivot to making an electric sedan, Lucid Motors found itself running out of money at a time when others were starting to take off. One of the options it turned to was a potential Ford acquisition. From a July 2017 report in R…

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