Churchill Capital IV (NYSE:CCIV) stock has been in a rut recently. In fact, InvestorPlace contributors are having a hard time coming to a consensus on the future of the company. But today, with new insight into Lucid Motors, things are looking up for CCIV stock.
The merger between Churchill Capital and Lucid has been the talk of the EV industry for a while now. The merger will allow investors to dip their toes into an option which seeks to directly compete with EV giant Tesla (NASDAQ:TSLA). However, as the company has been slow to get out details on the merger, even as the release of Lucid’s first model approaches quickly, CCIV stock has faced great volatility.
Yesterday afternoon, Lucid Motors released a short video on its Twitter account. The video allowed viewers a peek into the company’s flagship manufacturing plant. The post has been making waves among investors, and it is in fact catalyzing CCIV stock.
So, what is there to know about Lucid’s AMP-1 factory? Let’s take a look:
CCIV Stock: 4 Things to Know About the Lucid AMP-1
- It’s extremely hands on. While Lucid does confess in the video to using a small amount of automation, a vast majority of the work is done with human hands. The video showcases dozens of Lucid team members participating in the assembly of Lucid products.
- Every aspect of production is done in house. Some EV companies outsource their designs to third-party manufacturers. But, Lucid does everything under its own roof, from hardware assembly to software work.
- Quality control is thorough. The quality control team is shown in the video putting a Lucid vehicle through a variety of tests. Lucid says that quality control evaluates 11 subsystems in each car, ranging from powertrain to body to interior.
- It’s going to be huge — literally. While not mentioned in the video, Lucid has shared that the factory currently stands at 999,000 square feet. However, the company plans to expand the factory to around 5.1 million square feet over the next seven years. It’s deliberately selected desert location allows for this expansion easily.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.