Lucid Motors has recently announced an intent of the company to alter merge with a blank-check dedicated company Churchill Capital IV Corp in an agreement to trade and operate publicly.
Formerly known as Atieva, Lucid Motors Inc is a famous auto firm specifically dedicated in producing electric cars. As per recent reports, the American company aims to increases the assumption for electric cars across the globe. Therefore the idea of going public sets Lucid on the right path. The company is sponsored by a Saudi Arabia’s sovereign fund who per reports purchased about 67% slide in the electric car producer as Lucid by end of 2018 made 1.3billion dollars.
The deal between the electric car maker and the blank-check firm becomes the biggest so far involving an electric car firm and a blank-check company. Lucid Motors and Churchill Capitals deal track behind other smaller SPAC with electric car producers merger this year such as the Fisker and Lordstown Motors, and EV infrastructure…
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