However, due to the intense interest in electric vehicles and a healthy IPO market, a SPAC merger was the fastest and least costly way for Lucid Motors to become a publicly-traded company. The company is still ramping up capabilities as an automobile manufacturer, and private funding has covered its employee and development costs so far. ![]() The deal raised approximately $4.4 billion in cash for Lucid to invest in car production. The Lucid IPO (the first day of trading under the ticker symbol LCID after the CCIV SPAC merger) was July 26th, 2021. Lucid Motors announced its SPAC merger with CCIV on February 22, 2021, confirming earlier reporting by Bloomberg. When was the Lucid Motors IPO date or SPAC date? Lucid Motors is not affiliated with Caliber Imaging Diagnostics (LCDX), formerly known as Lucid Inc. Inspire the adoption of sustainable transportation by creating the most captivating luxury electric vehicles centered around the human experience. Headquartered in Newark, CA., the company has approximately 500 employees. Prominent pre-IPO investors included Saudi Arabia’s Public Investment Fund, Venrock, Mitsui, and Jafco, and the China Environmental Fund. Lucid Motors raised more than $1 billion in venture capital funding before the Lucid IPO completed. Peter Rawlinson is the CEO remained through the SPAC merger. In 2016, they rebranded to Lucid Motors and began the development of an electric luxury vehicle. The company was founded by Bernard Tse and Sam Weng and was initially named Atieva to focus on batteries and powertrains. It is expected to rival Tesla, Rivian, and Nikola in the electric vehicle market, one of the fastest-growing automotive segments worldwide. Lucid Motors is an electric vehicle (EV) manufacturer in the process of entering the marketplace for environmentally friendly luxury sedans. : Lucid Motors to Go Public in Merger with Churchill Capital Corp IV : Churchill Capital Corp IV Stockholders Approve Lucid Business Combination : Lucid Motors Debuts on Nasdaq Through Merger with Churchill Capital Corp IV : Rivian and Lucid Turn Up the Heat on Tesla With Big Milestones : Lucid to Deliver 520-Mile, $169,000 Electric Sedan Next Month : First Customers Picking Up Lucid Air EVs at Oct. : EV Startups Lucid and Rivian Deliver First Models to Customers : Lucid plans to launch in Europe this year : Lucid reports 30,000 EV reservations and raises prices on its Air sedans
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