Electric vehicle maker Lucid Motors Inc. is in talks to go public through a merger with Michael Klein’s Churchill Capital Corp IV, according to people familiar with the matter, Bloomberg reports.
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.
Representatives for Lucid Motors and Klein declined to comment. Read more.
