Churchill Capital IV (CCIV) shares have cut in half on the US stock exchange since the takeover special-purpose vehicle announced last week that it would merge with the electric car startup Lucid Motors of former Tesla chief engineer Peter Rawlinson. The stock traded below $ 30 on Thursday, which was still nearly three times what it was in late January when the first rumors of the Lucid deal surfaced. On the occasion of their confirmation, CEO Rawlinson, who was responsible for the Model S until 2013, spoke in an interview earlier this week about his plans for the first Lucid electric car Air.
Electric cars for $ 25,000
As might be expected, Tesla did the same. He couldn’t wait to bring out a smaller electric car in the Model 3 segment, Rawlinson told Reuters. For now, however, he will concentrate on the Lucid Air. Its production in its own US factory was supposed to start in the first quarter of 2021, with the IPO via CCIV it was postponed to the second half of the year. According to Rawlinson, a (already presented) version of the Air for less than 70,000 dollars will come in 2022, and the large SUV Gravity the following year.
Rawlinson also showed interest in the development of pickups and delivery vans, but only in several years and perhaps with partners. He also addressed a price segment that Tesla and VW also want to address, possibly by 2023: full-fledged electric cars for $ 25,000.
Lucid starts like Tesla
“The world desperately needs cars like this,” said Rawlinson. Realistically speaking, Lucid alone could not deliver them in at least the next eight years. But he was contacted by six well-known automakers who had shown interest in the company’s technology. In a cooperation, a (partial) Lucid for $ 25,000 in the next three to four years is conceivable.
This would make it less likely to compete with the Tesla Model 3 than with an as yet nameless model among them, which CEO Elon Musk announced last September. But first of all, Lucid has to get the luxury electric car Air onto the streets in order to earn enough money for smaller models like Tesla did in the past with Roadster, Model S and Model X.