"US version of Xiaopeng" Lucid plans to go on the market backdoor, expected to deliver Model S competing products in the second half of the year

The transaction is expected to be completed in the second quarter of this year. But in after-hours trading after the news was announced, CCIV fell by more than 30% to $40.35. The delivery of the first luxury car was postponed to the second half of the year. Lucid Motors plans to bring its car to the market and expand its factory in Arizona after receiving more than US$4 billion in funding. Lucid said that its first luxury electric car, Lucid Air, will begin production and delivery in North America in the second half of this year. Lucid predicts that the company's sales in 2022 will reach 2.2 billion U.S.

dollars, and its revenue will grow to 5.5 billion U.S. dollars and 9.9 billion U.S. dollars in 2023 and 2024 respectively. The company expects EBITDA in 2024 to be US$592 million. Lucid Air has a starting price of $77,400 and is expected to be the world's first electric car with a mileage of 500 miles.