Churchill Capital Corp Iv Extends 2-day Surge To Over 50% On News Of Plans To Take Lucid Motors Public Via Spac

Beginning at $77,400, the Air features a 9.9 2nd quarter-mile and fast-charging that captures 300 miles of new EV array in merely 20 mins.

Lucid is yet one more rival in a significantly crowded EV space. Nevertheless, the business has a little bit more going for them than many of its competitors.

In the past year, the news around Lucid heated up dramatically, particularly after the company’s September announcement of their very first full-sized EV, the Air.

Veteran Wall Street dealmaker Michael Klein runs Churchill Capital Corp IV and is the fourth of 7 ‘blank-check’ companies that Klein has been using to take companion business public.

Shares of Churchill Capital Corp IV soared to begin the week. The unique function procurement firm remains in talks to take Lucid Motors public, per Bloomberg.

Lucid boasts first-rate EV technology and is partly possessed by the Public Investment Fund of Saudi Arabia after a 2019 funding round valued at over $1 billion.

Shares of Churchill Capital Corp IV are trading close to $15 after floating around the $10 mark for months. According to information from Fidelity, the SPAC was the third most brand name among Fidelity clients since Tuesday morning, behind EV makers Nio and Tesla.

In this case, the partner company is Lucid Motors, a relatively reputable EV producer based out of Newark, California, which targets the automobile market’s luxury end. The deal could possibly value Lucid at $15 billion, according to Bloomberg.

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