Hyperdrive
Lucid Motors Is in Talks to List Via Michael Klein SPAC
- SPAC transaction could be valued at up to $15 billion
- Lucid would be latest Tesla rival to explore the SPAC route
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Electric vehicle maker Lucid Motors Inc. is in talks to go public through a merger with one of Michael Klein’s special purpose acquisition companies, according to people familiar with the matter.
A transaction could be valued at up to $15 billion, the people said, asking not to be identified because the matter is private. Lucid, which is backed by Saudi Arabia’s sovereign wealth fund, is working with financial advisers, the people added. The talks are ongoing but could still fall apart.