Photo: Lucid Motors
We reported earlier this year on Lucid Motors planning to go public after merging with Churchill Capital Corp IV, and after Tuesday, the company officially has followed up on those plans.
Lucid Motors (LCID) went public on NASDAQ on Tuesday, opening with a listing price of $25.24 USD, according to an email from the company’s CEO Peter Rawlinson. In the email, Rawlinson also assured investors and reservation holders that Lucid now has $4.4 billion USD of funding in the bank, and plans to add 2.7 million square feet to its AMP-1 Casa Grande, Arizona factory.
It’s official. $LCID now listing on @Nasdaq. #DreamAhead pic.twitter.com/Q1F9DqsSSN
— Lucid Motors (@LucidMotors) July 26, 2021
In addition to discussing the company’s financial goals, Rawlinson went on to emphasize Lucid’s focus on the environment as the company prepares to help encourage mainstream adoption of electric vehicles (EVs).
Within the letter, Rawlinson wrote, “We believe we’re creating the best EVs ever made. But our aspirations go beyond selling cars. Our planet is facing an environmental crisis that impacts every living being – now and in the future.”
While Rawlinson was unsure of if the company could produce 20,000 EVs by 2022 in a statement earlier this year, going public easily poises the company to achieve the production goal – if not in 2022, then at least by 2023.
At the time of writing, Lucid Motors’ shares are trading for $26.47, up 9.15 percent from today’s open.
