Stocks of Churchill Capital IV have actually surged this week as rumors swirled that the reason that is special business (SPAC) is in talks to merge with luxury electric automobile (EV) maker Lucid Motors.
Today, shares jumped another 18% as more proof emerged suggesting the rumors are real. The Lucid Motors web site is job that has become listing including manager of investing relations, SEC reporting supervisor, and analyst, investor relations. While no company statement was made, the work postings recommend Lucid Motors is closer to plans for becoming a company that is general public.
Lucid Motors CEO Peter Rawlinson worked as chief engineer on the Tesla (NASDAQ:TSLA) Model S sedan. Lucid has announced that its Air luxury sedan will likely be available with a battery selection of 517 kilometers, surpassing Tesla’s Model S range that is maximum of miles.
Production for the Air that is initial sedan is predicted to begin this year utilizing the $161,500 Air Dream Edition. Future models should include the beds base level Air Pure listed at $69,900. Lucid can be hinting at a SUV that is future with images on its web site, though no details happen released. In line with the a reaction to rumors for the merger, investors look like excited at the possibility of buying a public Lucid Motors.
Lucid Motors, the business behind the trendy Lucid Air vehicle that is electric set the SPAC sphere ablaze earlier in the day this week when Bloomberg broke the news that the EV maker had been trying to get general public by pursuing merger talks using the Unique Purpose Acquisition Company (SPAC), Churchill Capital Corp. IV (NYSE:CCIV 16.72 18.16%).
Lucid Motors will produce its Air EV during the factory that is AMP-1 Casa Grande, Arizona. The facility has an production that is initial of 30,000 devices each year. Eventually however, the ongoing company intends to increase this ability to 400,000 units per annum. Deliveries are required to commence into the springtime of 2021. Stocks of Churchill Capital IV have actually surged this week.