Is CCIV Lucid Churchill EV SPAC Stock a buy today? Churchill Capital Corp is merging with Lucid Motors, an EV company that designs and manufactures electric vehicles. Today we examine the strength of this investment, the merger with Lucid, the expansion plans, the valuation, the financials and the LUCID AIR. CCIV stock has crashed recently. What's next? Is Lucid the next Tesla?
🚀 Join the VIP Membership Group today! ► https://fiveorlessfinance.com/ Their first vehicle model, the Lucid Air, is supposed to hit the road in June. In terms of vehicle class, these go in the high tech luxury vehicle basket at a starting price of $70k. As its manufacturing capacity scales, Lucid will be able to sell more cars and maybe even reach profitability quicker than Tesla. The car looks bad-ass. You got a seamless connected experience, where you get in the car and it recognizes your face. The car is supposed to have a driving range of up to 830 km according to EPA estimates, which gives it the highest range of any electric vehicle currently on the market. It also features a 113-kWh battery pack and fast-charging capability. When plugged, the sedan should be able to get 480 km of range in 20 minutes, which is very impressive. Additionally, new owners are supposed to enjoy three years free fast-charging at Electrify America charging stations. Just like Tesla, Lucid will update customers with the latest software over the air. Then we got Biden’s infrastructure plan, which entails a $174 billion investment in the EV market. This will directly benefit EV companies and consumers by giving them sales rebates and tax incentives to buy American-made electric vehicles. With increased government mandates for electrification, combined with a huge growing consumer’s desire to own an electric vehicle, electrification of the automobile industry is taking place internationally at a rapid pace. Although Biden’s plan was a bit lacking in concrete details, this is a step in the right direction. This is only the beginning.
Last December, the company announced completion of construction on its factory in Casa Grande, Arizona. The factory will start expansion in 2021 in anticipation of the 2023 launch of the Lucid SUV. This factory is supposed to undergo a total of four phases of expansion, bringing it from its current 999,000 square feet to 5.1 million square feet by 2028. At the moment, Lucid has more than 1000 employees. With Lucid reaching public status in the next few months, the transaction will give Lucid a massive cash injection to fund bringing its electric sedan to market. I think the product, technology and management looks amazing. Lucid might have a lot of competitors at the moment, but they are targeting the high end segment, which sets them apart. On top of that, the EV market is in massive expansion. Additionally, unlike many SPACs, CCIV pipe investors have far time horizons to have the right to sell their shares, which is encouraging news. And one of the early investors also includes the former Ford CEO, which is also encouraging. #CCIV #Lucid #EV #LucidMotors #TSLA #Tesla #SPAC
