Blank-check company Churchill Capital IV (NYSE:CCIV) continues its uphill climb without any confirmation of a Lucid Motors SPAC merger. So as CCIV stock soars nearly another 20%, what should you know? And what about the Air EV makes Lucid Motors such a hot acquisition target?
For unfamiliar investors, the Air is an all-electric sedan from Lucid Motors. And according to a report from Bloomberg, Lucid Motors could be coming public just as it is about to launch that sedan.
With that in mind, here is what you need to know about CCIV stock and the potential Lucid Motors SPAC merger now:
- Lucid Motors unveiled the Air electric sedan in September 2020.
- Right now, the company says it will begin deliveries in the second quarter of 2021.
- Customers can currently reserve four different models of the Air EV.
- Importantly, the Air Dream Edition, a limited edition model, is the first that will be available.
- Reservations for the Air Dream Edition cost $7,500, and the vehicle price starts at $161,500.
- The other models include the Air Pure, Air Touring and the Air Grand Touring.
- Some will be available by summer 2021, while others will be available in 2022.
- Investors should note that the Air Pure is relatively more accessible, with a price tag near $70,000.
- Ahead of the Lucid Motors SPAC merger, the vehicle stats are also impressive.
- The company says its vehicles have a projected driving range of 517 miles.
- This comes in above comparable Tesla (NASDAQ:TSLA) ranges, and the 2019 average EV driving range of 183 miles.
- The battery in the Air EV can also gain 300 miles of new range in just 20 minutes.
- Additionally, the Air EV can go from 0 to 60 miles per hour in 2.5 seconds.
- According to Bloomberg, this makes it a rival to the $3 million Bugatti Chiron.
CCIV Stock: Why the Lucid Motors SPAC Merger Matters
So why do these Air EV facts matter for CCIV stock ahead of a potential Lucid Motors SPAC merger? Well, as we wrote earlier this week, Lucid Motors stands out from its competitors. Unlike other blank-check deals for electric car makers, Lucid Motors is farther along in the process. It is prepping to start deliveries next quarter, and already has other models in the pipeline. In addition to its Air models, an electric SUV is also in the works.
Lucid CEO Peter Rawlinson helped Tesla design and engineer the Model S — an iconic electric sedan. Now, investors see Lucid as a disruptor to Tesla in the EV market. In fact, with its luxury focus, some think that Rawlinson is about to launch a Tesla killer. If he really does, and Churchill Capital really does snap up Lucid Motors, CCIV stock could skyrocket.
Keep an eye on Lucid Motors and on CCIV stock. As always, without any confirmation of the deal, it is important to be cautious here.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer with InvestorPlace.com.