CCIV - Here's Why Lucid Motors Isn't Investing In Its Own Fast-Charging Network
The management team at Lucid Motors, a luxury electric vehicle (EV) company, provided a few updates during the company's July investor presentation, as well as expanding upon technology and spending plans the team is considering. Lucid still intends to begin mass production and delivery of its sedan, the Lucid Air Dream Edition, sometime in 2021. But the company failed to set a definitive date for its release. This uncertainty, along with the company's accelerated spending, could be among the reasons why the share price of Churchill Capital IV (NYSE: CCIV) , a special purpose acquisition company ( SPAC ) that Lucid plans to merge with on Friday, July 23, fell over 10% last week.
Image source: Lucid Motors.
There were a few positives to glean from the presentation as well. Lucid is investing heavily in efforts to extend vehicle range and improve fast charging. Management said it remains confident that high upfront research and development costs will save the company money down the road.
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Here's Why Lucid Motors Isn't Investing In Its Own Fast-Charging Network