By Reuters Staff
3 Min Read
(Reuters) - Luxury electric vehicle maker Lucid Motors on Monday agreed to go public by merging with blank-check firm Churchill Capital IV Corp in a deal that valued the combined company at a pro-forma equity value of $24 billion.
FILE PHOTO: The Lucid Air speed test car is displayed at the 2017 New York International Auto Show in New York City, U.S. April 13, 2017. REUTERS/Andrew Kelly
Lucid, run by an ex-Tesla engineer, is the latest firm to tap the initial public offering market, with investors rushing into the EV sector, spurred by the rise of Tesla Inc and with emissions regulations toughening in Europe and elsewhere.