The IPO market has skyrocketed over the past nearly a year, especially when looking at electric car manufacturers, due in part to Tesla’s tremendous success, and a number of macro factors in the industry’s favor, such as tightening emissions requirements. This sector was also characterized by the most frequent SPAC acquisitions, as is now the case with Lucid, but we cannot talk about undivided success because some deals, such as Fisker, were well received by investors, but Nikola, for example, quickly after the scandal. returns the short-term rise.
Ákos Szemán, an analyst at Porfolio, created a podcast about empty listed companies:
The price of a blank company called CCIV fell nearly a third in volatile post-trade trading, bringing the market capitalization of the merged entity to nearly $ 64 billion. By comparison, General Motors has a market value of $ 76 billion.
Lucid reported that it will begin production and delivery of the first pieces of the luxury sedan Lucid Air in the second half of this year, which we wrote about in more detail earlier. By the way, the company originally announced that it would deliver the first cars in the spring of 2021.
Lucid may still have a long way to go, with the manufacturer aiming to deliver 20,000 cars in 2022 and 251,000 in 2026, but by then it would be expanding its product range with other models, including an SUV. .
The Lucid Air, by the way, starts at $ 77,400 and is the first electric car to do 500 miles (805 km) on a single charge.
When Lucid’s pricing was announced, Tesla CEO Elon Musk also announced on Twitter a reduction in the price of the Model S, the famous 69 420 dollars.
The gauntlet has been thrown down! The prophecy will be fulfilled. Model S price changes to $69,420 tonight!
— Elon (Musk) October 14, 2020
(Reuters)
Cover image: David Paul Morris / Bloomberg via Getty Images
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