Churchill Captial who acquired Clarivate analytics a data science company in 2019 is hashing out the last remnants of a would-be merger with Lucid Motors. This indeed signals Lucid Motors platform to the public market. The merger will place Lucid Motors in an interesting position with a symbiotic relationship between Clarivate and the fledgeling EV company. As I have mentioned before Lucid Motors is the Saudi backed California based EV company - this public listing will allow the PIF to take money off the table (more than the $1b initial series investment). However, it will still be championed by the Saudis as there were mandates made for Lucid vehicles to be manufactured in Saudi and providing much-needed jobs.
This is an important consideration to be aware of as the merger takes place in the very near future. Although Lucid has sold no vehicles as yet and is still taking pre-orders for their vehicles which start from $69,900, it's garnered backing that will catapult it at least in stock valuation to above an estimated $24 billion dollar valuation according to Forbes. This type of healthy valuation will sound like music to the ears of the board of Churchill Capital who can then use the money to go on a bigger acquisition spree. Of course, the true success of Lucid Air won't be their design which is attractive I hasten to add, but their logistic and factory planning.