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Reuters added that Lucid Motors and CCIV have agreed on the key terms of the merger deal. 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.” Lucid Motors, to be officially named Lucid Group (LCID) after its public flotation, is just days away from merging with the SPAC Churchill Capital Corp. Previously, CCIV raised 2 billion in an IPO in July 2020. Lucid Air represents the next generation of EVs and creates new standards for interior comfort, range, efficiency and power.
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“Lucid’s mission is to truly mass industrialize electric cars and electric powertrain systems through the development of the most advanced technology imaginable. In the short speech he delivered after ringing the opening bell, the executive made some big promises for a company that is yet to bring its first production model to market. The money will allow it to add 2.7 million square feet (250,800 sq m) of additional space at the company’s greenfield factory in Arizona with the goal to add a separate line for the Project Gravity electric SUV. Lucid Group CEO and CTO Peter Rawlinson rang the opening bell at Nasdaq on July 26 to celebrate the company's public listing, and the executive said Lucid now has $4.4 billion in funding in the bank. 20, Churchill Capital IV (CCIV) stock rose more than 9 percent after the SPAC reminded its shareholders to vote for its proposed merger with Lucid Motors. The electric vehicle manufacturer is now 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.