Lucid Motors (NASDAQ:LCID) is now trading on the Nasdaq Exchange today after completing its merger with Churchill Capital Corp IV.
Here’s everything potential investors in LCID stock need to know about the company.
- Lucid Motors went public via a merger with special purpose acquisition company (SPAC) Churchill Capital Corp IV.
- With the merger complete, shares of CCIV switched over to the new LCID stock ticker.
- This also saw the shares deslit from the New York Stock Exchange and move over to the Nasdaq.
- The SPAC merger provided Lucid Motors with $4.4 billion in funding.
- The company is a manufacturer of electric vehicles (EVs).
- That includes the Lucid Air, which is scheduled for release in the second half of 2021.
- Lucid Motors notes that it already has more than 11,000 paid reservations for the EV.
- The company is also boasting that the Lucid Air will offer up more than 500 miles of travel per charge.
- The batteries are also able to reach 300 miles of charge within 20 minutes.
- To go with that, it also features a max horsepower of 1,080.
- It can go from zero to 60 mph in 2.5 seconds.
- However, customers will have to pay a pretty penny for one of the company’s EVs.
- The company notes that the Lucid Air starts at $69,900 after tax credit.
- Peter Rawlinson leads Lucid Motors as its CEO and CTO with over 30 years of experience in the automotive industry.
- That includes working at Tesla (NASDAQ:TSLA) as its vice president of Vehicle Engineering and chief engineer of the Model S.
LCID stock is off to a solid start today with shares rising 3.1% higher as of Monday morning.
Investors looking for more market news today will want to keep reading!
InvestorPlace has you covered with all of the latest stories. A few worth looking in on today include Amazon (NASDAQ:AMZN) and Bitcoin (CCC:BTC-USD) talk, today’s pre-market stock movers, and a reminder of the biggest stories from Friday. You can check out all of that info at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.