Electrical car makers Lucid Group and Nikola are transferring to lift further funds, as each corporations purpose to spice up manufacturing amid sharply rising battery prices and new federal laws that restrict incentives for EV consumers.

Nikola stated in a regulatory submitting Tuesday that it plans to problem as much as $400 million price of latest inventory in an “at-the-market” providing, which means that the shares shall be bought at prevailing market costs.

The Arizona-based maker of electrical heavy vans instructed traders throughout its second-quarter earnings name that it anticipated to lift further funds as it really works to ramp up manufacturing of its Tre electrical semitrucks and strikes forward with its $144 million acquisition of battery pack provider Romeo Energy.

Nikola had $529 million in money remaining as of the tip of June, and a further $312 million out there through an current fairness line from Tumim Stone Capital.

Individually, Lucid Group late on Monday filed a “shelf registration” to problem as much as $8 billion in new inventory over the subsequent three years. A shelf registration offers the corporate the suitable to problem the inventory as wanted.

Lucid stated in a press release that its shelf registration is meant to “present larger flexibility” to lift further cash sooner or later, and that it has no fast plans to promote any new inventory.

Lucid had $4.6 billion in money available as of the tip of the second quarter, sufficient to fund its operations and capital bills into subsequent yr, it stated earlier this month.