Country for PR: United States
Contributor: PR Newswire New York
Monday, July 26 2021 - 21:00
Lucid Motors Debuts on Nasdaq Through Merger with Churchill Capital Corp IV
NEW YORK, July 26, 2021 /PRNewswire-AsiaNet/ --

   - Lucid Motors begins trading today as Lucid Group, Inc., under the new
     ticker symbol "LCID" after completing a merger with Churchill Capital Corp
   - The transaction brings in $4.4B, which the company plans to use to
     accelerate its growth and increase manufacturing capacity to capitalize on
     expected demand
   - Company has over 11,000 paid reservations for Lucid Air and is on schedule
     to deliver its groundbreaking luxury electric vehicle in the second half
     of 2021
   - Lucid's leadership team reflects its culture of excellence, with
     significant expertise in the automotive and technology industries
   - In-house EV technology will deliver world-leading performance and
     efficiency, including a projected EPA range of over 500 miles on a single
   - Vertically integrated engineering and manufacturing capabilities,
     including a state-of-the-art EV factory in Casa Grande, AZ

Lucid Group( 
), which is setting new standards for sustainable mobility with its advanced 
luxury EVs, today became a publicly listed company trading on the Nasdaq Global 
Select Market with its Class A common stock and public warrants listed under 
the new ticker symbols "LCID" and "LCIDW," respectively. Lucid completed the 
previously announced merger with Churchill Capital Corp IV on July 23, 2021. 
The combined company will now operate as Lucid Group, Inc.

Photo -

Lucid will be ringing the opening bell at Nasdaq on July 26 to celebrate the 
company's public listing. A live stream of the event can be viewed by visiting:

"Lucid's mission is to truly mass industrialize electric cars and electric 
powertrain systems through the development of the most advanced technology 
imaginable," said Peter Rawlinson, CEO and CTO, Lucid Group. "Lucid Air 
represents the next generation of EVs and creates new standards for interior 
comfort, range, efficiency and power. We are on track to meet our projected 
deliveries for the next two years, and we look forward to delighting our 
customers around the world with the best electric vehicles ever created."

Rawlinson added, "Thank you to my colleagues across the country, from our 
headquarters in California to our factory in Arizona, for their outstanding 
efforts and willingness to question what's possible every day. I am proud of 
Lucid's core foundations, built on curiosity, determination, and sound 
engineering principles."

Michael S. Klein, Chairman and CEO of Churchill Capital Corp IV, prior to the 
business combination, said, "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. 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."

The company embarks on the next phase of its growth as it brings Lucid Air to 
market and expands rapidly to meet its goal of offering a broad range of 
products powered by the company's proprietary electric powertrain technology. 
Lucid recently passed 11,000 paid reservations for Lucid Air, including the 
fully reserved Dream Edition, the Grand Touring edition, and both Touring and 
Pure versions. The company is now currently producing Lucid Air at its factory 
in Arizona and conducting quality validation checks as a precursor to customer 

Lucid's leadership team spans decades of experience across a diverse set of 
automotive and technology companies. Its new Board of Director likewise 
delivers diverse expertise and consists of:

   - Peter Rawlinson, CEO & CTO, Lucid Group
   - Andrew Liveris, Chairman of the Board, formerly Chairman and CEO of The
     Dow Chemical Company
   - Turqi Alnowaiser, Deputy Governor and Head of the International 
     Investments Division, Public Investment Fund of the Kingdom of SaudiArabia
   - Glenn R. August, Founder and CEO Oak Hill Advisors, L.P.
   - Nancy Gioia, Executive Chairman, Blue Current, Inc.
   - Frank Lindenberg, former CFO, Mercedes-Benz Cars and Mercedes-Benz AG
   - Nichelle Maynard-Elliott, Director, Element Solutions, Inc.
   - Tony Posawatz, President & CEO, Invictus iCAR
   - Janet S. Wong, Partner (retired), KPMG LLP

About Lucid Group
Lucid's mission is to inspire the adoption of sustainable energy by creating 
the most captivating electric vehicles, centered around the human experience. 
The company's first car, Lucid Air, is a state-of-the-art luxury sedan with a 
California-inspired design underpinned by race-proven technology. Featuring 
luxurious interior space in a mid-size exterior footprint, select models of Air 
are expected to be capable of a projected EPA range of over 500 miles. Customer 
deliveries of Lucid Air, which will be produced at Lucid's new factory in Casa 
Grande, Arizona, are planned to begin in the second half of 2021.

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SOURCE: Lucid Motors