Lucid Channels Elon Musk’s Green Wealth Machine

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It’s not just the cars that come with a big price tag. The company, to be known as Lucid Group Inc., could be valued at around $37 billion once it begins trading on Nasdaq after its merger with Michael Klein’s special purpose acquisition company Churchill Capital Corp. IV. Shareholders are due to approve the transaction on Friday, providing Churchill is successful in persuading enough of them to vote. That would mean Lucid is worth around two-thirds the market value of Ford Motor Co., which sells more than 5 million vehicles in a normal year. Fisker Inc., another pre-revenue electric vehicle start-up, is worth “just” $4.8 billion.