Monday, March 1News That Matters

Tag: Motors

Lucid Motors is going public in a serious SPAC merger

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Lucid Motors is going to become a publicly traded company on the Unusual York Stock Alternate in a deal that will swagger away the electrical vehicle startup with $4.4 billion in cash. The California startup, which is majority-owned by Saudi Arabia’s sovereign wealth fund, plans to originate birth its first luxurious electrical vehicle — the 500-mile fluctuate Air sedan — later this year. An electrical SUV is slated to have a examine in 2023. Mighty treasure many other startups in the automotive condo grasp completed in the future of the final year, Lucid Motors is skipping the obsolete direction to turning into a publicly traded company and is as an alternative merging with a particular motive acquisition company, or SPAC. Particularly, Lucid Motors is merging with Churchill Capital ...