Then there’s the little matter of whether Rawlinson can actually manage a public company with revenues that soar to $900 million in the course of a year. The deal might not go through - and that would leave investors in a rough position. One big reason not to buy CCIV is that the rumors of its merger with Lucid have not been confirmed. Rawlinson told Forbes that volume could “top 25,000 units in 2022 as versions of Air priced at $77,000 arrive.” Reasons Not To Buy CCIV Lucid could generate a whopping $900 million in 2021 revenue by making 6,000 Airs. He plans to use the Air’s 1,080-horsepower propulsion technology to “power cheaper electric vehicles hundreds of thousands of mid-$40,000 electric cars and helping big automakers sell $25,000 mass-market EVs” by 2026, noted Forbes. Rawlinson said the “Air will top the S with an industry-leading 517 miles per charge, faster recharging and the ability to go from 0 mph to 60 mph in just over 2 seconds,” according to Forbes. He said that he is receiving similar disbelief and hostility in response to claims that the Lucid Air will be a big breakthrough. As he told Forbes, in 2012 nobody believed him that the Tesla Model S would be lauded as the world’s best electric car. Rawlinson sees history repeating itself with the Lucid Air. These include “the $69,900 Pure base model, a $87,500 Touring model and the $131,500 Grand Touring edition, later this year and in 2022,” noted Silicon Valley Business Journal. Lucid also plans to sell less pricey versions of the Air. The first version of the Air - the Dream Edition - will go for $169,000 and boast a driving range of 503 miles between charges.” One reason to consider buying Lucid Motors is that it reportedly has a product road map.Īccording to Silicon Valley Business Journal, “Lucid plans to deliver the Lucid Air, its first car, later this year from a new factory in Arizona.

According to Barron’s, “Churchill and Lucid weren’t immediately available to comment on today’s report.” Reasons To Buy CCIV At about 25 currently, CCIV stock has retreated 60 percent from that peak. As for the February 16, report that this merger was imminent, the parties are not confirming it. Churchill shares rose to an all-time high of about 65 ahead of the Lucid merger deal announcement. On January 11, Bloomberg reported that Lucid would merge with “a Michael Klein SPAC at up to $15 billion.” This is not the first breathless report that Lucid Motors would merge with a Klein-sponsored SPAC. The 4 analysts offering 12-month price forecasts for Lucid Group Inc have a median target of 29.00, with a high estimate of 39.00 and. assembly plant was “boosted by a $1 billion investment Saudi Arabia’s Public Investment Fund,” according to Reuters. According to Reuters, Chinese and Silicon Valley venture investors provided capital to Lucid and in 2018, Lucid’s Casa Grande, Arizona U.S. CCIV is reported to be in the process of raising $1.5 billion from investors in a private investment in public equity (PIPE) transaction which would be added to the $2 billion that CCIV raised in a July 2020 IPO.

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