Tesla rival Lucid Motors to go public in merger that values company at $24 bn

Tesla rival Lucid Motors to go public in merger that values company at $24 bn

Electric vehicle maker Tesla’s rival Lucid Motors has agreed to go public by merging with special-purpose acquisition company Churchill Capital IV in the largest such deal to date. The deal will generate about $4.4 billion in cash and value Lucid at $24 billion. The company plans to deliver its first luxury sedan in the second half of this year.

News source : Reuters

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