Lucid Motors Has Officially Gone Public, Now Trading On Nasdaq
The luxury EV-maker will now go by Lucid Group, Inc under the new ticker symbol ‘LCID’ after merging with Churchill Capital Corp IV.
- The deal gives Lucid Motors $4.4 billion, which the company plans to put back into manufacturing to meet expected demand.
- Lucid Motors has around 11,000 plaid reservations for the upcoming Lucid Air, which it intends to deliver in the second half of 2021.
Lucid Motors, the automaker behind the Lucid Air, is now a publicly listed company, now trading on the Nasdaq Global Select Market. Lucid merged with Churchill Capital Corp IV on July 23, allowing the company to go public.
For EV traders out there, Lucid uses the ticker symbols ‘LCID’ and ‘LCIDW’, respectively.
“Lucid’s mission is to truly mass industrialise electric cars and electric powertrain systems through the development of the most advanced technology imaginable,” said Peter Rawlinson, CEO and CTO, Lucid Group.
“Lucid Air represents the next generation of EVs and creates new standards for interior comfort, range, efficiency and power. We are on track to meet our projected deliveries for the next two years, and we look forward to delighting our customers around the world with the best electric vehicles ever created.”
The company is currently embarking on the next phase of its growth as it prepares to bring the Lucid Air to market.
Lucid has recently passed 11,000 reservations for the Lucid Air. This includes the Dream Edition, the Grand Touring edition and both Touring/Pure versions.
“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 unmet needs in the automotive industry, which is moving towards electrification at a rapid pace and on a global scale.”
— Michael S. Klein, Chairman and CEO of Churchill Capital Corp IV
Right now, Lucid is producing these electric rides at its factory in Arizona and conducting quality validation checks as a precursor to customer deliveries.
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