According to Rawlinson, “Project Gravity” is scheduled to be complete by 2023. The expansion should break ground at the end of this year to make space for Lucid Motors’ Gravity production. Furthermore, CEO Peter Rawlinson said it is already preparing phase two of its AMP-1 production facility in Casa Grande, Arizona. Still, Lucid insists it is still on track with production of the Air sedans. This delay announcement came just days after Lucid announced a merger with SPAC Churchill Capital Corp IV ($CCIV). It has since been pushed to sometime in the second half of 2021. The public caught a glimpse of Lucid Motors’ Gravity after the unveiling of its flagship Air sedan.ĭream Edition, Lucid Air’s first trim, was originally scheduled to arrive this spring.
The Gravity is not a production EV yet, but its patent images closely mimic the concept Lucid has teased. Patent images of Lucid Motors’ upcoming Gravity SUV were uncovered in a filing with the EUIPO. That means the stock is likely to perform inline with overall market performance.Lucid’s astute forum members have uncovered news the automaker may or may not want the public to see yet. What Analysts are Saying about CCIV StockĪccording to TipRanks’ Smart Score, which represents a compilation of sentiments about the stock, Nano Dimension earns a 4, or Neutral, rating. If these investments prove lucrative for investors, it’s possible we could see some momentum start to form in CCIV/LCID stock from here. Additionally, Lucid announced the company would be pulling forward a substantial amount of Capex to help accelerate production. For one, the company’s energy storage system prototype appears to be progressing positively. Lucid announced a couple other items of interest that might intrigue investors.
That is, considering the company’s pre-production run of only 89 vehicles has just been completed, investors are working with a small sample size right now from which to extrapolate. After all, a run rate of 250,000+ vehicles in 2026 and beyond is an aggressive target. Indeed, how this vehicle performs and the company’s ability to market to a broader base remain key questions for investors right now. For a company that’s likely to only produce a few hundred this year, demand going into 2022 appears to be strong. However, it appears the market was looking for more from this presentation.Īdditionally, reservation data shows that the Lucid Air has more than 10,000 existing preorders standing. The company reiterated its aggressive growth targets, including a 20,000 unit target for 2022, rising to more than 250,000 vehicles per year by 2026. To be honest, this selling pressure was a bit of a surprise. In advance of the call, the company filed its slide deck with the SEC, prompting almost immediate selling of this stock. Interestingly, this past week, Churchill and Lucid held a shareholder call to discuss updates prior to this week’s merger vote.
Shareholder Call Providing Little Optimism for Lucid Should the merger be approved by investors (which it likely will be), CCIV will cease to trade, and shares will be converted to LCID, which will trade on the NYSE starting July 23. For aggressive growth investors willing to speculate on optimism prevailing this week and next, perhaps now is a great entry point for considering CCIV stock. Right now, it appears the market is content to sell the news, and then to wait until the dust settles before offering judgment on this stock. Should the merger be approved, this is an EV play with the potential to do some serious rebounding in the near-term. That said, this week could be a big one for investors. These announcements have done little to buoy CCIV stock in advance of the merger vote, with CCIV stock losing 12% of its value last week alone. In addition to the announcement of the shareholder vote, Churchill made clear the company will be announcing a board filled with top executives from the finance and auto space. Given the fact that the shareholder vote is only a few days away, it’s understandable that anticipation is once again building for this early-stage EV player. CCIV Shareholder Vote and Merger Anticipation UpcomingĪmong the key things investors in CCIV stock will be watching this week is the company’s shareholder vote on the SPAC merger, which is scheduled for July 22. However, the question remains whether CCIV stock remains a solid buy before the prospective merger, or if investors should wait and see on what will be LCID stock.
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