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Lucid Motors strikes SPAC deal to go public with $24 billion valuation

Lucid Motors reached an agreement to become a publicly traded company through a merger with special-purpose acquisition company Churchill Capital IV Corp, in the largest deal yet between a blank-check company and electric vehicle startup.  The combined company, in which Saudi Arabia’s sovereign fund will continue to be the largest shareholder, will have a transaction equity value of $11.75 billion. Private investment in the public equity deal is priced at $15 a share, putting the implied the p...
Tags: Transportation, Europe, Saudi Arabia, China, Tech, Tesla, Bloomberg, Automotive, Air, North America, Churchill, Cto, Lucid, SPAC, Audi BMW, Atieva


Lucid Motors reveals its long-awaited Air electric sedan

Lucid Motors CEO and CTO Peter Rawlinson had a clear vision for how to take an electric car to another level. The former chief engineer of the Tesla Model S just didn’t expect it to take quite so long. Today, nearly four years since the company first announced its intentions to produce electric vehicles, Lucid Motors revealed the final version of its all-electric luxury Air sedan. The Air has eye-popping performance specs, an estimated range of up to 517 miles and a design that manages to balanc...
Tags: TC, Elon Musk, Saudi Arabia, Tech, Tesla, Automotive, Arizona, Air, North America, Cto, Musk, Lucid, Amazon Alexa, Atieva, ADAS, Rawlinson


Lucid's CEO says he has 'more advanced technology than Tesla,' and wants to use it to lower the price of EVs

Lucid Air. Lucid Lucid CEO and CTO Peter Rawlinson doesn’t think big batteries are the key to efficiency. He has plans to mass-produce the tech behind the Lucid Air and wants to see it in other cars. He also said that Lucid’s tech is “more advanced” than Tesla’s. Visit Business Insider's homepage for more stories. Believe what you want about trickle-down as it applies to economics, but it's a tried-and-true method in cars. Lucid Motors, the new EV startup on the scene, isn't just bringing ...
Tags: Transportation, US, Trends, General Motors, Tesla, Ford, Autos, Air, Volkswagen, Honda, Lotus, EVs, Cto, Tesla Model S, Lucid, CEOs


Lucid Motors’ all-electric Air will start below $80,000

After months of teasers and announcements, Lucid Motors will finally reveal its first all-electric luxury sedan, the Air, during a live stream on September 9. But of course, the day before the big reveal, a little bit of news has trickled out. Lucid Motors has previously alluded that it will offer a high-end variant of the Air. That flagship variant, called the Dream, is expected to cost $169,000 (or $161,500 after federal tax credits are accounted for), according to a report by Bloomberg. Th...
Tags: California, Tech, Tesla, Bloomberg, Automotive, Electric Vehicles, Arizona, Epa, Air, Lucid, Lucid Motors, Casa Grande Arizona


The Station: DoorDash snags $400M, Bolt Mobility deploys self-cleaning tech, and disappearing Jump bikes

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every Saturday in your inbox. Hi friends and first-time readers. Welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. I’m your host Kirsten Korosec, senior transportation reporter at TechCrunch. Let’s get straight to it this week. Remember please reach out and email me at kirsten.koro...
Tags: Apple, Transportation, Facebook, Lyft, Europe, Japan, UK, California, Southeast Asia, New York City, San Francisco, Tech, Automotive, Ford, House, Paris


Lucid Motors to begin producing Air electric vehicles for customers in early 2021

Lucid Motors will begin producing its luxury electric vehicle for customers at its new Arizona factory in early 2021, about three months later than expected due to a slowdown caused by COVID-19. The company, which plans to unveil a production version of the Lucid Air in an online event scheduled for September 9, said construction resumed several weeks ago at its factory Casa Grande, Arizona and is on target to complete phase one this year. Lucid Motors has also restarted vehicle developmen...
Tags: California, Saudi Arabia, Tech, Companies, Paint, Automotive, Electric Vehicles, Arizona, Transport, Air, North America, General Electric, Electric Car, Cto, Lucid, Samsung SDI


Lucid Motors secures $1 billion from Saudi wealth fund to launch the Air

Saudi Arabia’s sovereign wealth fund is investing $1 billion into Lucid Motors, capital that will finance the commercial launch of the startup’s first electric vehicle. The agreement comes just six weeks after Tesla CEO Elon Musk tweeted that he was considering taking Tesla private at $420 a share and had secured the proper funding to make the leap. Musk suggested that Saudi’s wealth fund, which already owns almost 5 percent of Tesla stock, would xyz. Tesla’s board and Musk have since quas...
Tags: Startups, Elon Musk, Saudi Arabia, Tech, Tesla, Automotive, Electric Vehicles, Arizona, Air, North America, Musk, Samsung SDI, Saudi Public Investment Fund, Lucid Motors, Lucid Air, Casa Grande Arizona



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