Bloomberg Technology

Lucid CEO Says Production of Debut Car Is Delayed

Feb.23 — Electric-vehicle startup Lucid Motors Inc. is going public in a massive SPAC deal that gives the company a forma equity value of $24 billion. Lucid is merging with Churchill Capital Corp IV, the special-purpose acquisition company run by financier Michael Klein. Lucid CEO Peter Rawlinson says production of its debut car will be delayed until…

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Feb.23 — Electric-vehicle startup Lucid Motors Inc. is going public in a massive SPAC deal that gives the company a forma equity value of $24 billion. Lucid is merging with Churchill Capital Corp IV, the special-purpose acquisition company run by financier Michael Klein. Lucid CEO Peter Rawlinson says production of its debut car will be delayed until the second half of this year. He speaks with Bloomberg’s Ed Ludlow.

57 Comments

  1. Jason Heilman - Musical Remedies

    February 23, 2021 at 10:11 pm

    This company is looking worse and worse

    Elon: no worries

    • Βύρωνας Λαδιάς

      February 23, 2021 at 11:36 pm

      how

  2. RocCity King

    February 23, 2021 at 10:11 pm

    Second half of the quarter so does that mean the summer time or fall?

    • Aaron C

      February 24, 2021 at 1:11 am

      Summer

  3. Raul Tineo

    February 23, 2021 at 10:17 pm

    Saw my profits rawling away last night after hours….

  4. Bit of Wizdomb

    February 23, 2021 at 10:32 pm

    Get it right lucid Jesus Christ ugh 🤦🏼‍♂️

  5. Jonathan Villareal

    February 23, 2021 at 10:38 pm

    Let’s sign a petition
    Peter rawlinson the new Siri voice lol

  6. George Robinson

    February 23, 2021 at 10:42 pm

    What I read from this is, Ford, GM, VW, MB, BMW, or any big conventional automakers, please buy us!

  7. Garfield Grant

    February 23, 2021 at 10:45 pm

    Lucid sells shares not cars

  8. Garfield Grant

    February 23, 2021 at 10:47 pm

    They’ve had these cars for over 4 years still no car and more delays but all of a sudden they are better than Tesla. BS

  9. Garfield Grant

    February 23, 2021 at 10:47 pm

    How can you be a technology company without a product

  10. Garfield Grant

    February 23, 2021 at 10:48 pm

    How dear this guy mention Tesla

  11. Garfield Grant

    February 23, 2021 at 10:48 pm

    Build quality only counts when you build something bud.

  12. mmafandan

    February 23, 2021 at 10:55 pm

    For everyone completely losing faith in this company remember when Tesla had a shit ton of issues regarding production??

  13. Chris Drullinger

    February 23, 2021 at 10:57 pm

    True salesman with no car to show

  14. MrSlyxx

    February 23, 2021 at 10:58 pm

    Oh please… we already knew this. Lucid is still going to be the best.

  15. John Leung

    February 23, 2021 at 11:04 pm

    Delay as expected

  16. jrak

    February 23, 2021 at 11:26 pm

    Good

  17. KISSMIBUT27

    February 23, 2021 at 11:29 pm

    At most Tesla had a qualified model before going public. These fraud companies now don’t even have a working prototype let alone qualified vehicle for sale. Hopefully no one buys the stock. This dude is just like Trevor Milton.

  18. Jon Russe

    February 23, 2021 at 11:33 pm

    Already diluted 1.6 billion shares and going back to capital markets soon….what’s the endgame? 2 billion?

  19. S Sawa

    February 23, 2021 at 11:51 pm

    I’m down $17000 because of this…

  20. djayjp

    February 24, 2021 at 12:03 am

    Lol immediately after the IPO? WTF how is that not illegal?!!

  21. Vinson Bell

    February 24, 2021 at 12:07 am

    Lucid reminds me of the DeLorean. Nice design but was never commercially viable.

  22. Alejandro Pol

    February 24, 2021 at 12:19 am

    Good point. We have a different EV market nowadays.

  23. J M

    February 24, 2021 at 12:40 am

    The interviewer looks so much like a gym rat version of Alfred E Nueman that I can’t take him seriously

  24. Damien Donnelly

    February 24, 2021 at 1:10 am

    “Pull the trigger when the time is right”. Meanwhile Elon is conducting Blitzkrieg in Germany, China, India, Texas.

  25. galaxy905

    February 24, 2021 at 1:17 am

    Very good interviewer! Impressed

  26. Precious

    February 24, 2021 at 4:39 am

    Holding my $14 average. . Long term money will be made.

    • Mark Plott

      February 24, 2021 at 5:41 pm

      CCIV to $0

    • Precious

      February 24, 2021 at 6:16 pm

      K

  27. darren meyers

    February 24, 2021 at 6:01 am

    Perfect. Looking forward to the future 👍🚀🦾

  28. Primping

    February 24, 2021 at 6:23 am

    Shocker. Another Hylion.

    • Mark Plott

      February 24, 2021 at 5:46 pm

      NIKOLA 2.0

  29. Mahesh Bugnath

    February 24, 2021 at 7:16 am

    Second half of the year sounds not too bad. If you’re producing a luxury car to compete with the Porsche Taycan or Mercedes EQ, then you better get your quality right. Those brands have been around for a while and they know how to make luxury products. If Lucid’s motors are genuine and have been independently assessed and are replicable then it’s not a scam. Smoothing out quality issues is quite desirable.

  30. ARGAMAWOO

    February 24, 2021 at 7:30 am

    Peter Rowlinson sounds like “J.A.R.V.I.S” father.

  31. R H

    February 24, 2021 at 8:31 am

    I don’t trust this guy

  32. Tobechukwu Ezeana

    February 24, 2021 at 9:04 am

    This man is flauting the Saudis backing. The Saudis are begging the Qataris to provide funding for oil field investment. And i ask, “What is actually going on at Lucid”

  33. Michael Babich

    February 24, 2021 at 9:28 am

    Car companies should stop becoming public before they release any product.

    • BlueToad

      February 24, 2021 at 12:10 pm

      Yes, that would make them look a lot more serious and let’s likely to be a scam

  34. Low Down

    February 24, 2021 at 11:16 am

    Elon is a lot more exciting to watch 😂

  35. BlueToad

    February 24, 2021 at 11:46 am

    He wants to mass produce EV power trains like no other company has? Errr….Tesla?

  36. BlueToad

    February 24, 2021 at 11:54 am

    I’m not at all surprised to see them delay the start of deliveries, in fact I expect them not to deliver this year at all and Peter Rawlins will probably not be CEO this time next year. Lucid have an expensive collection of prototypes right now. That’s all they have. They are selling stock. They compete with neither Mercedes nor Tesla.

  37. epic 91

    February 24, 2021 at 1:19 pm

    You can clearly see that he is not in “charge” of this structure. That said, I cant trust this anymore.

  38. TheCraig031272

    February 24, 2021 at 4:21 pm

    Peter Rawlinsin: Our product competes with Mercedes Benz, our tech competes with Tesla.
    If this is proven to be correct then Lucids future should be a bright one

    • Mark Plott

      February 24, 2021 at 5:42 pm

      LUCID can’t even get Software right.

  39. Luciano Calia

    February 24, 2021 at 4:24 pm

    I car should be good looking to be sellable

  40. C J

    February 24, 2021 at 4:28 pm

    It’s funny watching all these paper hands turn to extreme bears after buying an overpriced spac, watching it dip, then blaming peter and Klein for their stupidity

  41. Randell Clarke

    February 24, 2021 at 4:32 pm

    “The Bluest of the blue chip investors”. Apple car pending….

  42. Mark Plott

    February 24, 2021 at 5:53 pm

    LUCID motors is FRADULANT, only $4.5M in cash with a $8.5 M cash burn over few years.
    LUCID won’t be PROFITABLE till 2025.!!!!

  43. Rob Ferguson

    February 24, 2021 at 5:56 pm

    This guy is the biggest sellout ever. He basically handed over control of his company to the financial guys. Screwed the whole EV movement in the process. He should be prosecuted.

  44. Mark Plott

    February 24, 2021 at 6:05 pm

    PETER runs a FLEA Circus, fraud, it’s all smoke and mirrors.

  45. Big Smoke

    February 24, 2021 at 6:31 pm

    Great short-mid-long term hold ! Love this company

  46. napmaster383

    February 24, 2021 at 7:27 pm

    Clearly they are delaying production to add Peter Rawlinson’s voice as an alternative option to Siri.

  47. alex heaston

    February 24, 2021 at 7:30 pm

    Tesla was at this point once remember that…

  48. teuschitz. com

    February 24, 2021 at 8:33 pm

    haha… we absolutely delute your shares – with all of the bluest of the blue passion 😂

  49. SL twentyeight

    February 24, 2021 at 10:48 pm

    may just be the news but seems like investing in SPAC merged companies is not really buying the company but the managers behind the SPAC.

  50. D’alexander

    February 25, 2021 at 12:47 am

    Scam detected scam detected

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