Tesla rival stock debuts on Nasdaq

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One other day one other public providing. This time round, it’s for the luxury electric vehicle maker Lucid Motors. Lucid Motors was based in 2007, however not like Tesla, it’s but to launch its first electrical car. As an alternative, the corporate has traditionally concentrated on vitality storage options.

However Lucid Motors’s first electrical car, the Lucid Air, is predicted to be delivered to prospects within the second half of 2021. The posh sedan is predicted to come back in a spread of fashions together with the Pure, Touring, Grand Touring, and Dream Version. Given the Lucid Air Pure is Costs for the Lucid Air begins at $69,900 for the Pure mannequin and goes all the way in which as much as $161,500 for the Dream Edition, it’s clear Lucid isn’t aiming to compete with Tesla on value.

Right here’s what you could learn about Lucid Motors’ public itemizing at present:

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  • How is Lucid going public? It’s by way of a SPAC merger, not an IPO. SPAC stands for “particular goal acquisition firm,” which is an alternate approach to deliver an organization public. In an SPAC a shell firm is created by traders to boost funds to purchase one other firm. In Lucid’s case, it merged with an organization known as Churchill Capital Corp IV.
  • Which change will Lucid Motors commerce on? It would commerce on the Nasdaq.
  • What’s Lucid Motors’s ticker image? It’s LCID.
  • Will Lucid Motors be the following Tesla? That’s one thing solely time will inform.