Business
Electric car maker Lucid Motors to go public with $11.75bn deal – Al Jazeera English
The firm is benefitting from a wave of investments in EV startups, spurred by a rise in Tesla shares in the past year.
American luxury electric vehicle (EV) maker Lucid Motors has agreed to go public by merging with blank-cheque firm Churchill Capital IV Corp (CCIV) in a deal that valued the combined company at $11.75bn.
Lucid, run by former Tesla engineer Peter Rawlinson, is the latest firm to tap the initial public offering market, with investors rushing into the EV sector, spurred by the rise of Tesla Inc and the toughening of emissions regulations in Europe and elsewhere.
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