The market, mutual funds, and all of Wall Street seem to have found the ‘Holy Grail’ in the form of startups and new companies focused exclusively on the all-electric mobility of the future.
According to Bloomberg’s new report, the young California-based company Lucid Motors is in talks to go to market through a SPAC. A Special Purpose Acquisition Company, known as a SPAC, is a company created solely to merge or acquire another business and go public, a cheaper and faster alternative to an initial public offering.
The controversial rapid IPO method does not always deliver outstanding results. Still, in Lucid Motors’ case, the result can be interesting, as, with its Lucid Air, it is demonstrating the seriousness and potential of its project.
The Lucid Air is possibly the biggest competitor to the Tesla Model S and one of the rivals to beat in the luxury segment. Thanks to its efficiency and powertrain, this new vehicle sets a new standard that will set the bar very high for the novelties that, for example, Mercedes with its EQS and BMW intend to present at the end of the year or early 2022.
The transaction that is being considered around Lucid Motors is valued at around 15 million dollars. Compared to the SPAC’ phantom’ companies, the startup’s alternative has great viability since it has a reality capable of guaranteeing the solidity of the project.
With a factory about to start the Air production, a car that will set an indisputable benchmark, an SUV on the way, and a range that will gradually be more accessible, for the price for the public, the IPO can be a tremendous success.
The market is eager to inject money into companies with a 100% electric future, and as we have seen with Tesla, one of the six companies with the largest capitalization in the world, Nio or Xpeng, a small sample of the product is enough for the money to rain towards the coffers of these new companies that are laying the foundations of the mobility of the 21st century.