Lucid Motors Going Public In Merger With Churchill Capital Valued At $24 Billion

The Lucid Air, initially priced at $169,000, goes into production in Casa Grande, Arizona, this spring.

Lucid Motors

Lucid Motors, an electric car startup led by the chief engineer for Tesla’s Model S sedan, is going public by merging with Churchill Capital IV, a New York Stock Exchange-listed special purpose acquisition corporation, in a deal that could be worth an estimated $24 billion. 

The development–which Lucid CEO Peter Rawlinson recently told Forbes was a possible fundraising option–comes a few months before the release of the Lucid Air, a premium electric sedan initially priced at $169,000 that will be built at the company’s new Casa Grande, Arizona, factory.

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