February 23 - 09:02
Tesla rival Lucid Motors set for $24bn SPAC deal
Electric vehicle maker Lucid Motors is to go public in a SPAC merger deal worth $24bn. It is to combine with blank-cheque firm Churchill Capital IV Corp in an effort to supercharge its growth. Lucid, founded by an ex-Tesla engineer, specialises in luxury EVs and is on track to put its Air model into production later this year. Its vehicles have a projected range of over 500 miles on one charge.
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