And in July, EV startup Lucid Motors went public and collected $4.5 billion in funding, which will allow it to get its first EV, the luxurious Lucid Air, on the road. Electric vehicle makers who haven't been able to raise such extensive capital are now looking at innovative production methods that will reduce the cost of mass EV production to avoid the production delays that plagued Tesla's initial foray into mass electric vehicle production. Traditionally, carmakers would build around 240,000 vehicles per year at a cost of $2 billion, but EV makers are now building smaller "microfactories" with fewer or less-expensive equipment that churn out fewer vehicles at a reduced cost. London-based Arrival has gone this route, using microfactories worth around $40–$50 million equipped with fewer expensive machinery to build electric vans and buses.