Churchill’s leadership team and group of operating partners will actively facilitate key introductions and relationships and provide product, design, and industry insights. Peter Rawlinson will continue to lead Lucid along with the rest of the company’s seasoned leadership team. Lucid expects to have 3,000 employees in the US by the end of 2022. Lucid currently employs nearly 2,000 people in the States and intends to continue growing quickly to support the company’s ramp in operations. This is namely California where the company is headquartered, and in Arizona where the company has built its vehicle manufacturing facility from the ground up, as well as its in-house electric vehicle powertrain manufacturing facility.Īdditionally, with directly-owned retail locations already open in California and Florida, Lucid will continue to expand its retail and service footprint across the US throughout 2021. Lucid’s growth will continue to benefit the communities in which it operates. This sort of distance will help to quash any range anxieties of any potential electric car buyers and help convince people to move to clean driving. Their new Lucid Air has a projected range of over 500 miles (800km) on a single charge, which is ahead of all competitors on the market today. Lucid is setting new standards in performance, range and efficiency, appealing both to customers and investors committed to a zero-emission future.
“We are pleased to partner with Peter and the rest of Lucid’s leadership team as it delivers the highly anticipated Lucid Air to market later this year, promising significant disruption to the electric vehicle market and creating thousands of jobs across the US.” Just send a message to to give us a heads up.Michael Klein, chairman and CEO of CCIV, said: “CCIV believes that Lucid’s superior and proven technology backed by clear demand for a sustainable electric vehicle make Lucid a highly attractive investment for Churchill Capital Corp IV shareholders, many of whom have an increased focus on sustainability. begins with a detailed study of the EEC Merger Regulation which.
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Lucid, if it does go through with its merger, would be one of the most well-rounded EV makers to take the SPAC route.ĭon’t hesitate to contact us for news tips. Its lucid and systematic approach has won acclaim from professional users and. Fellow EV maker Fisker Inc., which also has links to Tesla’s early days, also went public via a similar deal last year. Faraday Future, an EV maker that has pledged to take the battle to Tesla years ago, is reportedly in talks to merge with Property Solutions Acquisition Corp. CCIV stock is worth significantly more based on an adjusted comp valuation.More From InvestorPlace Why Everyone Is Investing in 5G All. SPACs are becoming a popular way among EV companies to bulk up and raise cash. The CCIV SPAC merger with Lucid Motors looks undervalued. A good part of this may be due to the fact that Lucid is led by EV veteran Peter Rawlinson, who previously worked on the Tesla Model S. Nevertheless, Lucid Motors appears to be one of the most well-rounded electric vehicle companies that have emerged this year, with the Air sedan matching and even outgunning veterans like the Tesla Model S in some specs.
In comparison, fellow EV maker Tesla was already well within the production and deliveries of the original Roadster when it went public in 2010.
Citing sources reportedly familiar with the matter, Bloomberg noted that the transaction could be valued at up to $15 billion, which is quite impressive considering that Lucid Motors is yet to start delivering its debut vehicle, the Air luxury sedan.