PR90841

NEW YORK, July 26, 2021 /PRNewswire=KYODO JBN/ --

   - Lucid Motors begins trading today as Lucid Group, Inc., under the new

     ticker symbol "LCID" after completing a merger with Churchill Capital Corp

     IV

   - The transaction brings in $4.4B, which the company plans to use to

     accelerate its growth and increase manufacturing capacity to capitalize on

     expected demand

   - Company has over 11,000 paid reservations for Lucid Air and is on schedule

     to deliver its groundbreaking luxury electric vehicle in the second half

     of 2021

   - Lucid's leadership team reflects its culture of excellence, with

     significant expertise in the automotive and technology industries

   - In-house EV technology will deliver world-leading performance and

     efficiency, including a projected EPA range of over 500 miles on a single

     charge

   - Vertically integrated engineering and manufacturing capabilities,

     including a state-of-the-art EV factory in Casa Grande, AZ

Lucid Group(https://c212.net/c/link/?t=0&l=en&o=3238452-1&h=1095825040&u=https%3A%2F%2Fwww.lucidmotors.com%2F&a=Lucid+Group), which is setting new standards for sustainable mobility with its advanced luxury EVs, today became a publicly listed company trading on the Nasdaq Global Select Market with its Class A common stock and public warrants listed under the new ticker symbols "LCID" and "LCIDW," respectively. Lucid completed the

previously announced merger with Churchill Capital Corp IV on July 23, 2021.

The combined company will now operate as Lucid Group, Inc.

Photo - https://mma.prnewswire.com/media/1580906/Lucid_Motors.jpg

Lucid will be ringing the opening bell at Nasdaq on July 26 to celebrate the

company's public listing. A live stream of the event can be viewed by visiting:

https://www.nasdaq.com/marketsite/bell-ringing-ceremony.

"Lucid's mission is to truly mass industrialize electric cars and electric

powertrain systems through the development of the most advanced technology

imaginable," said Peter Rawlinson, CEO and CTO, Lucid Group. "Lucid Air

represents the next generation of EVs and creates new standards for interior

comfort, range, efficiency and power. We are on track to meet our projected

deliveries for the next two years, and we look forward to delighting our

customers around the world with the best electric vehicles ever created."

Rawlinson added, "Thank you to my colleagues across the country, from our

headquarters in California to our factory in Arizona, for their outstanding

efforts and willingness to question what's possible every day. I am proud of

Lucid's core foundations, built on curiosity, determination, and sound

engineering principles."

Michael S. Klein, Chairman and CEO of Churchill Capital Corp IV, prior to the

business combination, said, "Lucid has industry-leading technology, clear

demand for its products, and is on track to deliver revenue-generating cars to

customers in the second half of this year. We are excited to support Lucid's

transition into a public company and confident in its ability to address unmet

needs in the automotive industry, which is moving towards electrification at a

rapid pace and on a global scale."

The company embarks on the next phase of its growth as it brings Lucid Air to

market and expands rapidly to meet its goal of offering a broad range of

products powered by the company's proprietary electric powertrain technology.

Lucid recently passed 11,000 paid reservations for Lucid Air, including the

fully reserved Dream Edition, the Grand Touring edition, and both Touring and

Pure versions. The company is now currently producing Lucid Air at its factory

in Arizona and conducting quality validation checks as a precursor to customer

deliveries.

Lucid's leadership team spans decades of experience across a diverse set of

automotive and technology companies. Its new Board of Director likewise

delivers diverse expertise and consists of:

   - Peter Rawlinson, CEO & CTO, Lucid Group

   - Andrew Liveris, Chairman of the Board, formerly Chairman and CEO of The

     Dow Chemical Company

   - Turqi Alnowaiser, Deputy Governor and Head of the International

     Investments Division, Public Investment Fund of the Kingdom of SaudiArabia

   - Glenn R. August, Founder and CEO Oak Hill Advisors, L.P.

   - Nancy Gioia, Executive Chairman, Blue Current, Inc.

   - Frank Lindenberg, former CFO, Mercedes-Benz Cars and Mercedes-Benz AG

   - Nichelle Maynard-Elliott, Director, Element Solutions, Inc.

   - Tony Posawatz, President & CEO, Invictus iCAR

   - Janet S. Wong, Partner (retired), KPMG LLP

About Lucid Group

Lucid's mission is to inspire the adoption of sustainable energy by creating

the most captivating electric vehicles, centered around the human experience.

The company's first car, Lucid Air, is a state-of-the-art luxury sedan with a

California-inspired design underpinned by race-proven technology. Featuring

luxurious interior space in a mid-size exterior footprint, select models of Air

are expected to be capable of a projected EPA range of over 500 miles. Customer

deliveries of Lucid Air, which will be produced at Lucid's new factory in Casa

Grande, Arizona, are planned to begin in the second half of 2021.

Media Contact

media@lucidmotors.com

SOURCE: Lucid Motors