Connect with us

News

Lucid Motors will go public as a result of the merger. The capitalization of the final company is estimated at $ 64 billion

Published

on

Electric car maker Lucid Motors announced yesterday that it has agreed to go public through a merger with Churchill Capital IV Corp (CCIV).

Churchill Capital IV Corp is classified as a Special-purpose acquisition company (SPAC), created specifically for mergers with other companies for listing them, bypassing the IPO procedure.

The $ 11.75 billion deal, including a $ 2.1 billion CCIV cash contribution and a $ 2.5 billion private investment through Saudi Arabia’s public investment fund, will create a company with an estimated market capitalization of approximately $ 64 billion. … For comparison: General Motors is worth about $ 76 billion.

Lucid said it plans to begin production and deliveries of the first model, the Lucid Air luxury sedan, which starts at $ 77,400, in the second half of this year. The company previously promised to begin deliveries in the spring of 2021. The release will be established at the Lucid plant in Arizona. It is planned to ship 20,000 electric vehicles in 2022 and 251,000 in 2026, including new models.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Electric Cars3 hours ago

Electric car GM Hummer EV tested in subzero temperatures

GM has released a video showing testing of an electric Hummer EV in sub-zero temperatures. Tests are taking place in...

News5 hours ago

Redmi’s new big TV comes out on March 17

At the end of the press conference on the presentation of the Redmi Note 10 line of smartphones, Xiaomi has...

News5 hours ago

8500 mAh, 6.1 inches, IP69K and 6/128 GB: the indestructible new Doogee costs less than $ 200

Almost a month ago, the unkillable Doogee S86 smartphone was presented, which should go on sale on March 29th. The...

Phones6 hours ago

Without bangs, but with a hole for the camera: iPhone with a new “hairstyle” was shown in a high-quality image

After information appeared that Apple is experimenting with a new iPhone design without bangs, sources have published a high-quality image...

Phones6 hours ago

Samsung Galaxy S21 turned out to be a real hit: it is more popular than Galaxy S20, Galaxy S10 and Galaxy S9

According to South Korean media, Samsung has sold almost 600,000 Galaxy S21 smartphones in its homeland, while in the same...

News6 hours ago

Microsoft’s $ 7.5bn acquisition of ZeniMax approved by SEC and European Commission

Last September, Microsoft announced that it had acquired game publisher ZeniMax Media, which owns Bethesda and several other studios. According...

News7 hours ago

Apple’s difficult relationship with “truth”: the girl was cut off from iCloud for six months because of her last name

It became known about an unusual case that occurred due to a defect in the code of the iCloud service....

Components7 hours ago

AMD Confirms Release Date for Epyc Zen3 Processors (Milan)

AMD has confirmed that the third generation of AMD’s Epyc processors will be officially unveiled on March 15th. On this...

Most Popular