Saturday 18 September 2021

Lucid debuts on Nasdaq through merger with Churchill Capital

DUBAI, July 26, 2021

Lucid Group, parent company of American electric vehicle manufacturer Lucid Motors, became a publicly listed company trading on the Nasdaq Global Select Market with its Class A common stock and public warrants listed under the new ticker symbols 'LCID' and 'LCIDW', respectively. 
Lucid completed the merger with Churchill Capital Corp IV on July 23, 2021 and the combined company will operate as Lucid Group, Inc.
Group CEO and CTO Peter Rawlinson said: “Our mission is to mass industrialise electric cars and electric powertrain systems through the development of advanced technology. Lucid Air represents the next generation of EVs and creates new standards for interior comfort, range, efficiency and power.”
Prior to the merger, Churchill Capital Corp IV Chairman and CEO Michael S. Klein said: “Lucid has industry-leading technology, clear demand for its products, and is on track to deliver revenue-generating cars to customers in the second half of this year. We are excited to support Lucid’s transition into a public company and confident in its ability to address needs in the automotive industry, which is moving towards electrification at a rapid pace.” 
"Lucid recently passed 11,000 paid reservations for Lucid Air, including the fully reserved Dream Edition, the Grand Touring edition, and both Touring and Pure versions. The company is currently producing Lucid Air at its factory in Arizona and conducting quality validation checks as a precursor to customer deliveries," a company spokesperson said.-TradeArabia News Service


More Motoring Stories

calendarCalendar of Events