The top of the line Lucid Air Dream Edition, which is already sold out, will have a range of over 500 miles and produce 1,080 horsepower from its advanced electric, all-wheel-drive powertrain. It will compete with high-end electric models from Tesla, Mercedes Benz, BMW, Audi and Porsche. Lucid's first vehicle is the ultra-luxury Lucid Air sedan. He worked under Elon Musk as Chief Engineer of the Tesla Model S before joining Lucid in 2013. Rawlinson is an auto industry veteran and former Tesla employee. "We are excited to support Lucid's transition into a public company and confident in its ability to address unmet needs in the automotive industry, which is moving towards electrification at a rapid pace and on a global scale."Īs a newly listed public company, Lucid Group CEO and CTO Peter Rawlinson will continue to lead the company along with the Churchill IV's leadership team. Klein, Chairman and CEO of Churchill Capital Corp IV. "Lucid has industry-leading technology, clear demand for its products, and is on track to deliver revenue-generating cars to customers in the second half of this year," said Michael S. ![]() Now Lucid is positioned to be a formidable challenger to segment leader Tesla. Lucid raised $4.4 billion in its IPO and is hoping to cash in on the strong investor interest in electric vehicle stocks that helped propel Tesla to become the world's most valuable automaker last year with a market cap topping $650 billion. No doubt that its IPO will be closely watched by investors looking for the next big thing in the EV space. Lucid Motors is one of the most talked about electric vehicle startups since Tesla went public in June 2010. It spiked as high as 20% earlier in the day. As of 2:00pm EDT, the stock was up 10% to $26.68. The stock is listed under the new ticker symbols "LCID" and "LCIDW," respectively. The combined company will now operate as "Lucid Group, Inc." IPO on Monday after completing the previously announced merger with special purpose acquisition company (SPAC) Churchill Capital Corp IV on July 23, 2021. Portions of this page are reproduced from work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License.California-based luxury electric vehicle startup Lucid Motors launched its U.S. Learn about cookies and how to remove them. Removal of cookies may affect the operation of certain parts of this website. This website uses cookies to obtain information about your general internet usage. App Store is a service mark of Apple Inc. Apple, iPad, and iPhone are trademarks of Apple Inc., registered in the U.S. Telephone calls and online chat conversations may be recorded and monitored. CMC Markets UK Plc and CMC Spreadbet plc are registered in the Register of Companies of the Financial Conduct Authority under registration numbers 173727. CMC Markets Germany GmbH is a company licensed and regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) under registration number 154814. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.ĬMC Markets is, depending on the context, a reference to CMC Markets Germany GmbH, CMC Markets UK plc or CMC Spreadbet plc. 78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please remember that past performance is not a reliable indicator of future results. For comparison, Tesla delivered 442,511 of its Model 3 in 2020, which suggests that Polestar has some catching up to do to reach its competitors’ levels. ![]() In terms of sales, according to, the company sold 8,746 of the Polestar 2 model in 2020, although it is now targeting an average of 50,000 sales in the next few years. If Polestar is valued at over $20bn upon listing, this means that it is valued around 38x its 2020 revenue, which is an impressive achievement. For hopeful investors, this may change in the run up to a public listing and Polestar may release more concrete numbers so that investors can weigh up the pros and cons of trading on its SPAC listing.Īccording to Wccftech, the company earned approximately $645m in revenue in 2020, a growth of over 600% relative to 2019 earnings. ![]() It is difficult to perform company analysis on Polestar over the years as it hasn’t released any specific financials in its annual reviews, instead focusing on its technology structure and future plans.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |