![]() However, not everyone shares the same confidence as Rawlinson and CCIV. The $22.8 billion total revenue would mean delivering over 251,000 vehicles and an EBITDA of approximately $2.9 billion. In its investor presentation of 2021, Lucid expects annuals total revenue of $2.2 billion in 2022, $5.5 billion in 2023, and $22.8 billion by 2026. Despite the continuously delayed plan, Lucid Air presents itself as a promising company. The merger has caught some attention on Wallstreet, partly because investors are interested in the merger would push the delivery of Lucid Air forwards. With a 50% premium added, Lucid’s initial Pro-forma equity was valued at approximately $24 billion, bringing a transaction priced PIPE at $15 per share. Lucid Motors is planning to raise $4.6 billion through the merger, including $2.1 million from CCIV and another $2.5 billion from fully committed (PIPE). The merger between Lucid Motors and Churchill involves the ever largest special purpose acquisition company (SPAC) related common stock private investment in public equity PIPE. ![]() However, he remained relatively optimistic about the future in his May 25 th interview, affirming that 20,000 units next year is “realistic.” Unfortunately, Lucid has fallen behind its planned schedule (Lucid Motors produced only 577 cars in 2021), and Rawlinson acknowledged that “here’s always gonna be weak links when you’ve got an international supply base of notionally around 250 suppliers”. With more funds, Lucid plans to expand its manufacturing facilities and expect the annual productivity of 365,000 vehicles in the coming years. Lucid’s manufacturing base for Lucid Air, AMP-1, has an annual production capacity of around 34,000 vehicles. Its first product, Lucid air, starting from $69,000, was notable for its 2.5 seconds 0-to 60 times. Its CEO and CTO, Peter Rawlinson, was once the vice president and chief engineer for Model S at Tesla before he assumed leadership at Lucid Motor, a rising competitor of Tesla. is American electrical vehicle manufacture focusing on the luxury cars market, the employers of nearly 2,000 American workers. As Lucid and CCIV planned to complete the merger in the second quarter of 2021 (April 1 st – June 30th), we should be expecting to hear about the merging soon. Merger with CCIV would allow Lucid to raise capital like a public company, bolstering the development and marketing of Lucid’s first luxury electrical vehicle, Lucid Air. On February 22 nd, 2021, Lucid Motors announced its proposed merger with Churchill Capital Corp IV (NYSE: CCIV), combing at a transaction equity value equals to $11.75 billion.
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