ThatвЂ™s up from 8,000 at the end of February.

Other Details Worth NotingДЄs I mentioned, the company has more than 9,000 reservations. House, along with Smuts, is charged with ensuring Lucid never runs out of capital.

However, they are vital to the ongoing success of a growth business. Not only did it snag House, but it also hired three other key executives as it prepares to deliver the Lucid Air to the more than 9,000 future customers with reservations.Д¬FOs are often overlooked in tech businesses. We stand on the cusp of delivering the worldвЂ™s most advanced electric vehicles, and now with the arrival of Sherry, augmented by the ongoing, invaluable contribution of our Vice President of Finance, Mike Smuts, we continue to build out what I believe to be the EV industryвЂ™s strongest leadership team. There is no question CEO Peter Rawlinson is building a quality management team. 7 High Quality Industrial Stocks to Buy Now.Not only does she have an MBA, but she also holds several advanced engineering degrees.

The executiveвЂ™s worked in tech, private equity, and automotive. She comes from Waymo, the self-driving business operated by AlphabetвЂ™s Google (NASDAQ: GOOG, NASDAQ: GOOGL). The AirвЂ™s headline features include a very spacious and luxurious interior and an ultrafast 900V+ battery architecture that is compatible with the CCS standard and makes it possible to soak up a 300-mile range with just a 20-minute fast-charge.On May 5, Lucid announced the appointment of Sherry House as its chief financial officer. The top model will carry a price tag of $169,000 and will offer 1,080 horsepower and a range of 517 miles. Lucid MotorsвЂ™ base EV model will start retailing at $69,900 (with the incorporation of federal tax credits) and offers a range of 406 miles along with a 0-60 mph acceleration in 2.5 seconds. The options continue to include an IPO, direct listing, a SPAC merger, and another private funding round.ДЄs a refresher, the Lucid Air is a luxury EV sedan that will retail in three versions: the Air, the Air Touring, and the Air Grand Touring.

A key assumption here is that Churchill Capital is able to negotiate a very attractive price for the consortiumвЂ™s stake.Дespite the promising nature of this development, investors should not get carried away as the PIF has yet to confirm the mode through which Lucid MotorsвЂ™ shares would be publicly floated. Should Venrock-led consortium sell its stake to Churchill Capital, the SPAC would directly need to acquire a smaller stake in Lucid Motors while allowing for a higher overall valuation, thereby brightening the prospects for the merger. Before explaining further, readers should note that a SPAC only acquires a fraction of its target company вЂ“ usually around 10 percent. We were able to glean that, in light of the ferocious rally in Churchill Capital shares, valuation remained a key concern between the two negotiating parties and the Saudi PIF, which retains a controlling stake in Lucid Motors. However, more importantly, this development cuts to the very heart of the purported valuation concerns that have been stalling these talks. First, this indicates that negotiations continue to plough ahead, thereby brightening the prospects for an eventual agreement. Now, this development has two major implications for the ongoing merger talks between Lucid Motors and Churchill Capital.

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