As of July 23, 2021, Churchill Capital Corp IV was acquired by Lucid Motors USA, Inc., in a reverse merger transaction. Churchill Capital Corp IV does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.
Yahoo - Lucid Motors (LCID) shares closed more than 10% lower on Wednesday at $17.79 a piece. The stock was under pressure because a lockup period expired for some of the electric vehicle company's big investors. PIPE shareholders, which stands for private investment in public equity, are allowed to sell for the first time since Lucid went public via a SPAC in July. Shares fell as much as 19% during Wednesday's session, their lowest price since listing on the Nasdaq. Lucid is backed by Saudi Arabia’s sovereign wealth fund, BlackRock funds, Fidelity Management & Research, and Franklin Templeton.
From what I understand, Lucid business strategy is to differentiate itself as a premium, luxury brand, if they succeed to establish themselves then they would trade at a premium to their peer group.
interesting name for a car company. who comes up with this stuff? i wouldve gone with lambent. lucid [ˈlo͞osəd] ADJECTIVE expressed clearly; easy to understand. "a lucid account" · intelligible · comprehensible · understandable · cogent · coherent · rational · sane · in one's right mind · in possession of one's faculties · bright · shining · gleaming · luminous · radiant · brilliant · glowing · dazzling · lustrous · luminescent · phosphorescent · lucent · lambent · effulgent · refulgent
I worked for Lucid Motors. Terrible company and they will fail. I feel sorry for anyone who is investing in them. They have terrible management and an overpriced product that is not of matching quality. You're better off buying a Tesla.
What do you need to hear? Terrible management. Subpar quality parts. Just an overall a junk product at an insane price.
lol! Yahoo cites Lucid's enterprise value at 5.8B. In terms of real world value, that number is wildly optimistic. The market cap for Lucid is 40B. You are asking if Lucid will hit an enterprise value of 90B. It is extremely difficult to start an EV manufacturing company. Tesla pulled the sword from the stone. Of the other startups, I give Lucid the best odds but I would say substantially less than even odds. That is the most detailed "I don't know" answer I'm able to provide.
Yeah, I dont know why anyone would buy one of their cars.... If I had that kind of money I would buy a Tesla before touching one of these. Super niche market of super expensive electric sports cars. I will wait for the major car companies to complete the switch to EV and push these niche companies out. By 2030-2035 All vehicles will be EV and have some form of autonomous driving software. By 2040-2045 all cars will be 100% self-driving. I really like what is happening with eVTOL's , I really think "flying cars," is the future. Ive been keeping my eye on this company that makes personal jetbacks as well.... It is no secret that the interstate highway system is outdated and unable to keep pace with the growing traffic demands.... The airways will soon be utilized to ease the demand. I could see it being very helpful for Mass Transit. Something like an AirBus with "stops" at various roof-tops within a city
520 miles on a charge. beats tesla buy a hundred miles if my research is accurate. edit: wait, stockjockey already covered this. anyway, here it is again.. ----------------------------- Lucid Shares Up 5.5% After Setting Date for Deliveries of Lucid Air EVs 10:31 a m ET October 27, 2021 (Dow Jones) Print By Michael Dabaie Lucid Group shares were up 5.5% to $27.82 in morning trading Wednesday after the electric vehicles maker said it will make the first deliveries of the Dream Edition launch versions of its Lucid Air luxury EV on Saturday. Lucid said it plans to deliver 520 customer-configured Lucid Air Dream Editions, followed by deliveries of Lucid Air Grand Touring versions. The company said it anticipates delivery of Touring and Pure models to customers during 2022. The Dream Edition Range achieves an estimated 520 miles on a single charge according to the Environmental Protection Agency, the company said. Lucid in late September kicked off its production at its Advanced Manufacturing Plant and Lucid Powertrain Manufacturing factories in Casa Grande, Arizona. Write to Michael Dabaie at [email protected] (END) Dow Jones Newswires October 27, 2021 10:31 ET (14:31 GMT) Copyright (c) 2021 Dow Jones & Company, Inc.
I am rooting for LUCID's success as more EV is good for everyone. But will take advantage of the recent FOMO rally.
It is about to get interesting. They are undoubtedly losing tons of money on every Dream Edition they sell, even at $170K. Still, it needs to be done and they have captured a lot of mindshare with their huge range. On Sunday, they will have moved on to the step of publicly visibility of bugs, service issues, and supply chain issues. They will have all of these things in wholesale quantities. A year from now, it will become apparent they are under existential thread if they do not scale, but they will find it impossible to scale. Oddly, I'm not against Lucid. I hope they succeed, also. They might. I'm just pointing out: they have declared their intention to climb Mt. Everest. They just stepped out of the van and have a bunch of equipment on the ground. It's not yet time to declare any sort of business success, although the work they have done so far is impressive and certainly rates an accomplishment. The point I'm trying to make is this: A lot of people watched Tesla struggle and assumed Ford/GM/Stellantis will step in and consume 100% of the EV oxygen without working up a sweat. It has been obvious for a decade, that is not how it works. It is nearly impossible to start an EV company. I suspect GM will succeed but only because I know the federal government will bail them out of the certain bankruptcy they are going to face. Ford only recently pulled their head out of the sand. Ford has been saying so many stupid things that it's difficult to take them seriously, even now that they are more closely aligned with reality. Stellantis might succeed, on some level, if they take an entirely new approach. I hope they all succeed but tax payers can only fund a finite amount of stupidity.
you know, @TomB16 , i get the feeling you have been a lifetime subscriber of popular mechanics magazine. your posts are like reading a page out of it.
So, I just crapped all over Lucid and I feel it was valid. I stand behind those words. But I did not mean to suggest Lucid is a bad company. To the contrary, they are well ahead of almost everyone else. Almost no one understands how hard it is to start an EV car company. You simply cannot create a product with a new design that has tens of thousands of new parts, manufacture it in mass quantity, and have no problems. It is not possible. Volkswagen has a huge amount of engineering muscle and the corporate strength to go with it. VW has had a lot of problems getting their EV program off the ground. It's been a few years and they are still struggling. It is really, really, really difficult. Imagine a startup trying to bootstrap an EV car company. A team of engineers who haven't worked together before, in a new environment, will attempt to design a viable vehicle platform. There will be myriad problems before they deliver the first car to a customer and that will be the tip of a very large iceberg. I have profound admiration for Lucid. What they have accomplished already is amazing. They are 2% of the way to their goal of mass producing EV cars.