AUS
NZ
UK
CA
USA
IND
_06_04_2026_00_29_48_108019.jpg)
Summary
- CCIV shareholders will vote on July 22 to decide whether Lucid Motors should merge with Churchill Capital.
- Lucid Motors will likely merge with the blank-check company, and its stock will trade on the NYSE.
- Investors have been waiting for Lucid Motors to make its public debut as the electric vehicles industry is expected to boom in future.
Investors are giving mixed signals as the merger of Lucid Motors and blank-check company Churchill Capital Corp IV (NYSE:CCIV) nears completion. Stocks of the special purpose acquisition company (SPAC) declined by 3.5 per cent on Wednesday, July 21, and closed at US$ 23.43 apiece. Meanwhile, the stock climbed by a little less than one per cent in premarket trading at 8 AM EST on Thursday.
CCIV shareholders will vote on Thursday to decide whether Lucid Motors should merge with Churchill Capital. The votes are likely to be in favor of the merger as investors have been waiting with bated breath for months for the electric vehicle (EV) maker's public debut.
If the approval happens, Lucid Motors will debut on the New York Stock Exchange (NYSE) on Friday, July 23, and start trading with the ticker 'LCID'.
Does Lucid Motors have the potential to become a big EV Stock?
Established in 2007, Lucid Motors is a maker of luxury electric vehicles, and aims to compete directly against Tesla. On July 13, Peter Rawlison, the current CEO of Lucid and former vice-president of Tesla Engineering, said that the company is on track to deliver luxury sedan Lucid Air in 2021.
The public debut after a merger with a special purpose acquisition company (SPAC) values Lucid Motors around US$ 24 billion, which can help the investors understand the relative size of the company.
As the merger is expected to provide US$ 4.4 billion in cash, Lucid could use it to support its expansion plans and increase production capacity at its plant in Arizona. Mr Rawlinson reportedly plans to execute the expansion plan in three phases, and he claims the company's production facility can produce 365,000 EVs per year.
Copyright © 2021 Kalkine Media
Should you invest in Lucid Motors?
Lucid Motors wants to scale up the production and reservations for its Lucid Air, whose price starts at approximately US$ 70,000. The reservations for the sedan have reported surpassed the 10,0000mark, which would translate into anticipated sales worth US$ 900 million.
By 2020, the EV maker plans to produce 20,000 units of Lucid Air, and by 2026, it wants to produce 250,000 vehicles per year. If everything goes according to the company's plans, then there are chances that Lucid Motors could emerge as one of the leading companies in the electric vehicles segment, and its stock might fly high in future.
