Tesla rival Lucid Motors to go public in $11.8 billion blank-check merger

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Luxury electric vehicle maker Lucid Motors on Monday agreed to go public by merging with blank-check firm Churchill Capital IV Corp in a deal that valued the combined company at $11.75 billion.

FILE PHOTO: The Lucid Air speed test car is displayed at the 2017 New York International Auto Show in New York City, U.S. April 13, 2017. REUTERS/Andrew Kelly

The publicly traded shares of CCIV fell nearly a third to $40.35 in volatile extended trading, giving the merged company a market capitalization of about $64 billion. By comparison, General Motors Co is worth about $76 billion. With a starting price of $77,400, the sedan is slated to be the first to achieve a 500-mile driving range.

 

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Get the mobile inductive charging sorted or it will die in the arse. Say multi-laned low speed (variable) highway section where cars can cruise and pick up charge. Pay by phone app. ©2021

Interesting.....wonder who's writing the cheques?

The name alone will be enough to put of buyers.

Waiting for an affordable electric car. No need for 1000 HP, don’t need 0 to 60 in 2.5 seconds, and don’t need to do 1/4 mile in 9.9. All you need to do is get to point A to point B while not polluting our planet earth. Why do these car companies not make a car for everyone.

Elon dese ki al şunu hediyem olsun sana Rocky ülkemize hizmetlerinin karşılığı, ben Tr de OTV sini ödeyemem sağolsun asrin lideri refah seviyemizi gökyüzüne çıkardı. Yıl 2021 ve araç özel tüketim olarak gorunuyor

I feel like any EV company is unfairly automatically labeled Tesla rival

Wonder who’s stealing the designs.

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