Lucid Motors agrees to go public with a valuation of $ 24 billion
(Bloomberg) – Lucid Motors Inc. is merging with a blank check firm run by financier Michael Klein that values the combined entity for a pro-forma value of $ 24 billion, the largest in a series of deals involving EV startup The automaker has avoided comparisons with market leader Tesla Inc., but the public listing positions it to compete for a slice of what is expected to become a rapidly growing market for electric vehicles. The deal, which confirms an earlier Bloomberg News report, will generate about $ 4.4 billion in cash for the 14-year-old …
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