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Following its merger with Churchill Capital Corp IV, a Special Purpose Acquisition Company (SPAC), Lucid Motors began trading on Wall Street yesterday, according to CNBC . This emerging car company has done it just before starting deliveries of its first electric vehicle, the Lucid Air, which is expected to reach its customers in the coming months, before the end of the year. This merger had been announced in February and was finally completed yesterday, causing Lucid Motors shares to rise by % in just a few hours.
According to experts, this twist in Lucid Motors history makes it an even more powerful rival for Tesla , with whom he already competed in terms of technology, promising his customers an electric car with 1, 80 horsepower and 500 miles of charge, something that would surpass the Tesla Model S, listed as the most powerful and fastest car of the brand . Economically, the financing resulting from the merger of both companies, in addition, leaves Lucid Motors with a large round of profits for its shareholders and an amount greater than $ 4,
Through an official statement, Peter Rawlinson, CEO of Lucid Motors, said : “We are in on track to meet projected deliveries to our customers this year, next, and in the future. But with the $ 4.4 billion in financing we now have in the bank, we can significantly accelerate our trajectory while mitigating our risks in delivering the best electric vehicles in the world. ”
According to Rawlinson, in addition to the expansion of the brand’s factory in Arizona, Lucid Motors hopes that the funding it has received will also accelerate the development of Project Gravity, its electric SUV, one of the next vehicles on its schedule. 
Like Lordstown Motors or Rivian, which is in plans to build a second plant in the United States thanks to the boost it received from Amazon , Lucid Motors is one of the main emerging companies in the automotive industry and has become one of the most promising, something that will undoubtedly become much more evident in the coming months, as the first installments of his debut car.
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