Lucid Motors went public via a SPAC merger with Churchill Capital IV in a $11.8bn deal.

Lucid Motors, an American automotive company, went public via a SPAC merger with Churchill Capital IV, a special purpose acquisition company, in a $11.8bn deal. The transaction includes a PIPE investment anchored by PIF, BlackRock, Fidelity Management & Research, Franklin Templeton, Neuberger Berman, Wellington Management and Winslow Capital Management. "We are thrilled to complete our business combination with Churchill IV and become a public company. Lucid has further increased its momentum as we gear up to make the first customer deliveries of our Lucid Air lineup of electric sedans later this year. We are making significant investments in the long-term growth and innovation of our company, and we will continue to bring to bear world-class technology to positively impact mankind's transition to sustainable mobility. I want to thank Michael and the Churchill team for their partnership and shared vision," Peter Rawlinson, Lucid CEO and CTO. On February 24, 2022, Lucid Motors faces shareholder suit over $11bn SPAC merger.