Luxury Tesla Competitor Ready To Go Public Following $11 Billion Deal

Lucid Motors, an EV maker targeting the luxury segment, will merge with a special-purpose acquisition company to go public in a deal worth $11.75 billion, valuing the company at $24 billion. Reuters reported that the deal involves an investment of $2.1 billion from the SPAC, Churchill Capital IV Corp, and a private investment in public equity worth $2.5 billion from a number of investors. Reports that Lucid Motors was planning to go public first emerged in January, with the Los Angeles Times recalling how the Saudi government had saved the company…

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