Is Lucid Motors a Chinese company?
Formerly known as Atieva, Lucid was founded as a battery company in 2007 with backing largely from Chinese investors. … The Saudi funding allowed Lucid to begin construction on an assembly plant in Casa Grande, Ariz.
Is Lucid Motors merger with CCIV?
Lucid Group, the company formed after Lucid Motors’ July 23 merger with Churchill Capital Corp IV (CCIV), has become a publicly listed company.
Why is lucid stock so low?
Part of the decline can be attributed to the fact that Lucid Motors went public via a less traditional SPAC at a time when such deals have fallen out of favor among investors and Wall Street dealmakers. Adding to the gut-punch for Lucid Motors has been a broader downturn in stocks of electric vehicle start-ups.
Does Saudi Arabia own lucid Motors?
The kingdom of Saudi Arabia stands to record a profit of nearly $20 billion on a $2.9 billion investment in Lucid Motors Inc., a San Francisco Bay Area electric-car maker that is set to list publicly after it completes a merger with a special-purpose acquisition company Friday.
Where can I buy Lucid Motors stock?
You can buy Lucid Motors stock now under the ticker ‘LCID’ on the Nasdaq exchange. As a result of the merger, Churchill Capital and Lucid Motors were renamed Lucid Group and shares of CCIV switched over to the LCID ticker.
Who makes batteries for lucid?
With the world’s leading battery cell technology, safety, reliability, and production expertise, LG Chem will supply high-quality battery cells to Lucid Motors,” said Jong Hyun Kim, the president of LG Chem’s energy solution company, in the press release. Later that year, LG Chem suffered two deadly accidents.
Is CCIV merging?
After a long wait, CCIV (Churchill Capital IV) finally completed its merger. On July 23, shareholders finally approved the merger and Lucid Motors started trading on its own starting July 26. Now, investors want to know what happened to CCIV after it merged with Lucid Motors.