Welcome to the period of. post luxury?
Lucid Motors hit the headlines this week after becoming a publicly-traded company by merging with Churchill Capital Corp IV with a valuation in the region of $24 billion. However, instead of building on this positive news, the fledgling luxury EV company has had to halt production of its first model until the second half of 2021.
Lucid was initially planning the first deliveries of its Air model in the spring. In a TV interview, Lucid s CEO Peter Rawlinson claims the delay is self-imposed. He told Bloomberg Technology that he felt the rush to market is unnecessary, and Lucid would rather take more time to get the quality right.
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