Churchill Capital IV (CCIV) soared 40% today because of a SPAC formed by ex Citigroup hotshot and Wall Street dealmaker Michael Klein being in talks to take electric vehicle maker Lucid Motors public through a transaction that could be valued at up to $15 billion.
Some of Klein’s blank-check firms have already struck deals. Last year, healthcare services provider MultiPlan signed an $11 billion deal to go public by merging with another entity of Churchill Capital.
Churchhill Capital is also planning an IPO with Skillsoft, an educational technology company that produces learning management system software and content. That is, however, a different article for this week.
SO WTF IS THIS CAR?
Record-breaking Performance and Range
With up to 1,080 horsepower available in a dual-motor, all-wheel-drive design, the Lucid Air is able to achieve quarter-mile times as quick as 9.9 seconds, consistently. The market LOVES electric vehicles, especially fast and luxurious ones. None of this NIO Chinese company crap, please.
World’s Fastest Charging EV
The Lucid Air offers the capability to charge at rates of up to 20 miles per minute when connected to a DC Fast Charging network.
Race-Proven EV Battery Packs
Lucid Motors drew upon 10 years of experience and over 20 million miles of real-world testing in creating its in-house developed, compact 113 kWh extended-range battery pack. The car will offer a market-leading range as high as 517 miles when it comes out in 2021, topping Teslas battery.
Class-Leading Interior Packaging and Largest Frunk
Lucid Air offers a full-size luxury-class interior while maintaining an agile, sexy sport sedan look. This also results in the largest frunk (front truck) of any electric car to date.
The Most Aerodynamic Luxury Car in the World
The Lucid Air is the world's most aero-efficient luxury car with tests completed at Windshear’s advanced rolling-road wind tunnel verifying a coefficient of drag of 0.21. Whatever that means.
The Next Level in ADAS
The Lucid Air’s advanced driver-assistance system (ADAS), Lucid DreamDrive, is a first-of-its-kind platform combining the most comprehensive sensor suite on the market using a cutting-edge technology like the Driver Monitoring System (DMS), all standard on the Lucid Air Dream Edition. It is the first system of its kind to offer 32 sensors, covering vision, radar and ultrasonics, plus the world’s first standard high-resolution LIDAR in an EV, all working alongside the standard DMS and geo-fenced HD mapping to provide the safest possible approach to Level 2 and Level 3 driver assistance technologies.
World’s Most Advanced Lighting Technology
Lucid Air’s headlamps are a truly revolutionary Micro Lens Array system comprised of literally thousands of “light channels.” This technology provides the brightest, most accurate and advanced lighting system ever.
Alexa Voice Natively Integrated into Lucid Air
Yep, she's tagging along.
This is a rumor reported by Bloomberg so far. Keep your eyes peeled and that powder dry.
**Not a financial advisor. Articles are opinion only.
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