President Trump's tariffs on imported vehicles are reshaping the auto industry, compelling carmakers to relocate production to the US. Lucid Motors, benefiting from this shift, has seen increased interest from companies seeking to utilize its Arizona factory to avoid tariffs. Lucid's CEO, Marc Winterhoff, revealed that multiple manufacturers have reached out for partnerships. This trend reflects a broader pivot to strengthen domestic manufacturing as companies like Stellantis and GM react to the tariffs, highlighting a unique opportunity for local EV producers that minimize exposure to these tariffs.
We've seen interest in our manufacturing capability in Arizona. As carmakers look for more capital-efficient strategies to make vehicles in the US, we've seen several inbound inquiries to discuss possible cooperation.
It's still early and talks are preliminary, but the President and the administration want to have a strong manufacturing sector in the US, and we are looking at potential ways we can leverage our assets.
We have had several players reaching out to us, exploring joint manufacturing in the US, given that we now have additional assets that we can leverage.
The Trump administration's 25% tariffs on imported cars and auto parts have sparked a scramble for carmakers to move as much production to the US as possible.
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