Deal with corporate shell: Tesla hunter Lucid goes public


Deal with corporate shell
Tesla hunter Lucid goes public

This is what the electric car scene has been waiting for: Lucid is approaching the stock market launch.  The  e-car startup is merging with a specially designed corporate shell.

 The  US electric car manufacturer Lucid Motors dares to take the plunge with the Churchill Capital IV stock market jacket. ©

 The  Tesla competitor will be merged with the already listed company shell Churchill Capital IV, announced Lucid Motors. ©

 The  combined company will be valued at $ 11.75 billion.


 The  deal includes a $ 2.5 billion investment from Saudi Arabia’s public investment fund (PIF) and funds managed by the world’s largest asset manager Blackrock, among others. This is expected to give Lucid $ 4.6 billion in revenue.

Behind the “Special Purpose Acquisition Company” Churchill Capital IV (SPAC,) is the former Citigroup banker Michael Klein. Lucid was founded in 2007 by former Tesla manager Bernard Tse and entrepreneur Sam Weng. ©

 The  California-based electric car maker announced in August that it would launch its first luxury e-model, Lucid Air, earlier this year. With a range of around 800 kilometers, the sedan outperforms comparable electric cars, the company announced.

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Deal corporate shell Tesla hunter Lucid public


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