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Lucid Motors begins trading today as Lucid Group, Inc., under the new ticker symbol "LCID" after completing a merger with Churchill Capital Corp IV The transaction brings in $4.4B , which the company plans to use to accelerate its growth and increase manufacturing capacity to capitalize on expected demand Company has over 11,000 paid reservations for Lucid Air and is on schedule to deliver its groundbreaking luxury electric vehicle in the second half of 2021 Lucid's leadership team reflects its culture of excellence, with significant expertise in the automotive and technology industries In-house EV technology will deliver world-leading performance and efficiency, including a projected EPA range of over 500 miles on a single charge Vertically integrated engineering and manufacturing capabilities, including a state-of-the-art EV factory in Casa Grande, AZ
NEW YORK , July 26, 2021 /CNW/ -- Lucid Group, which is setting new standards for sustainable mobility with its advanced luxury EVs, today became a publicly listed company 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. Lucid completed the previously announced merger with Churchill Capital Corp IV on July 23, 2021 . The combined company will now operate as Lucid Group, Inc.