Lucid Group Inc Stock Price, News & Analysis

Lucid Group announced the delisting of its public warrants from Nasdaq (symbol: LCIDW), effective October 13, 2021. This follows the redemption of all outstanding warrants at a price of $0.01 each. As a result, holders of the remaining warrants will receive this redemption price, and all warrants are void and non-exercisable. Trading was halted after Nasdaq discovered that trading continued post-redemption. Approximately 44.4 million privately placed warrants remain, held by a single holder with transfer restrictions. Lucid's future production of the Lucid Air is set to begin in late October.

Lucid Group has commenced production of its luxury EV, Lucid Air, at its Advanced Manufacturing Plant in Casa Grande, Arizona. During the Production Preview Week, the first customer-quality vehicles were manufactured, with deliveries to begin in late October. Lucid has over 13,000 reservations for the Air, with a planned production increase to 520 Dream Edition vehicles. The EPA rated the Dream Edition's range at a record 520 miles. Lucid's Arizona facilities are expected to contribute $9 billion to the state's economy by 2024 and create 15,000 jobs annually.

Lucid Group announced that its Lucid Air Dream Edition Range has achieved an EPA rating of 520 miles, making it the longest-range electric vehicle ever rated by the EPA. This surpasses its closest competitor by over 100 miles. The Dream Edition Range can deliver 933 horsepower while maintaining energy efficiency, thanks to its advanced 900V battery technology. Lucid also revealed that other models, including the Dream Edition Performance, now hold the top positions for EPA range ratings among all EVs. This milestone positions Lucid Group as a leader in the electric vehicle market.

Lucid Group announced the cashless redemption of all outstanding public warrants (LCIDW) originally issued during its IPO, eliminating them at a price of $0.01 per warrant. The redemption requires holders to exercise warrants on a cashless basis, receiving Class A common stock instead of cash. This strategic move aims to streamline the company's capital structure and minimize shareholder dilution. The warrants will cease trading on October 8, 2021, at 5:00 p.m. ET. Lucid aims to boost investor confidence ahead of the anticipated launch of its Lucid Air luxury EV.

Lucid Group has announced its Production Preview Week at AMP-1, scheduled for the week of September 27, 2021, at its Advanced Manufacturing Plant in Casa Grande, Arizona. This event will allow media, financial communities, policymakers, and select customers to observe the production of the Lucid Air and experience the vehicle during ride-and-drive sessions. The AMP-1 factory, the first dedicated EV facility in North America, has completed its initial phase of construction in under a year and is set for future expansions including the launch of the Project Gravity SUV in 2023.

Lucid Group has unveiled the limited-run Lucid Air Dream Edition, featuring two versions: Dream Edition Performance and Dream Edition Range. The Performance variant boasts a powerful 1,111 horsepower, while the Range variant provides 933 horsepower with a focus on maximizing distance. Initial evaluations indicate the Range version can achieve up to 517 miles on a single charge. Both models are priced at $169,000 and will begin customer deliveries later this year.

Lucid Group, Inc. has officially begun trading on the Nasdaq under the ticker symbol LCID following a successful merger with Churchill Capital Corp IV, which completed on July 23, 2021. The merger raised $4.4 billion, earmarked for growth and increased manufacturing capacity. Lucid has over 11,000 paid reservations for its luxury electric vehicle, Lucid Air, with deliveries scheduled for the second half of 2021. The company is positioned to capitalize on the growing demand for electric vehicles, backed by in-house technology promising an EPA range of over 500 miles.

Churchill Capital Corp IV (CCIV) has successfully completed its business combination with Lucid Motors, transitioning into Lucid Group, Inc. Shares will be listed on Nasdaq under the ticker symbol LCID starting July 26, 2021. CEO Peter Rawlinson emphasized momentum as Lucid prepares for the launch of its luxury EV lineup, Lucid Air, capable of up to 1080 horsepower and over 500 miles of range. The merger aims to fuel Lucid's innovation and growth in sustainable mobility, supported by significant investments for operational scale and technology improvement.

On July 23, 2021, Churchill Capital Corp IV (CCIV) announced that its stockholders overwhelmingly approved the business combination with Lucid Motors, with approximately 98% of votes in favor. The merger is poised to close on the same day, initiating Lucid's transition to public trading on Nasdaq under the ticker 'LCID' on July 26, 2021. Lucid Motors aims to revolutionize electric vehicles with its flagship model, the Lucid Air, expected to deliver a range of over 500 miles, with production starting in Casa Grande, Arizona, in the second half of 2021.