NEW RIVAL ON
WALL STREET. EVEN MAKER LUCID
MOTORS HAS ANNOUNCED IT IS
GOING PUBLIC. YES BACK MERGER
WITH BLANK-CHECK COMPANY
CHURCHILL CAPITAL LOOSE, IT
WILL NET 4.4 BILLION DOLLARS
AND WHAT'S THE LARGEST DEAL YET
BETWEEN A BLANK CHECK COMPANY
AND AN ELECTRIC
VEHICLE STARTUP CHAIR SHARES OF
CHURCHILL CAPITAL FALLING
TODAY, THEY'RE DIPPING BY MORE
THAN 31%.
NONETHELESS WE
ARE BLESSED TO BE GRACED WITH
THE PRESENCE OF PETER RAWLINSON
CEO AND CTO OF LUCID MOTORS.
PETER, ALWAYS A PLEASURE TO
SPEAK WITH YOU AND
CONGRATULATIONS FIRST AND
FOREMOST ON THIS MILESTONE
EVENT FOR THE COMPANY, YOU KNOW
IN
SPITE OF THE REACTION THAT
WE'RE SEEING THE SHARES
THIS IS ONE DAY OF OF A MAJOR
KIND OF LEAD THAT IT HAS A MUCH
WATER KIND OF
IMPLICATION FOR ENVIRONMENTAL
SUSTAINABILITY AND A WHOLE WHY
WAS NOW THE RIGHT TIME TO TAKE
A LUCID MOTORS PUBLIC.
>> WELL EQUIPPED TO JOIN YOU
GRANT IT'S JUST AN APPROPRIATE
MOMENT IN TIME AS WE SCALE THE
BUSINESS WOULD GETTING CLOSE
NOW TO GETTING THAT COME BEHIND
ME LISA DE
INTO PRODUCTION. ACCELERATING
THE PROGRESS OF PROJECT
GRAVITY. WE INITIATING A
PLANS TO AND PHASE 2 OF A
FACTORY IN ARIZONA.
>> IN READINESS FOR PROJECT
GRAVITY. AND IT WAS AN
IT'S TO GET IN DOS SEMANAS FROM
BLUE CHIP INVESTORS THAT HAVE
SHOWN TRUST AND FAITH IN US
WE'VE GOT.
>> A
FULL HOUSE.
>> AN AMAZING LISTING ALL OF
THE BLUEST OF BLUE
CHIP INVESTORS, HU
UP IN FOR THE LONG TERM AND
WITH THAT WE'VE GOT A STRONG
CASH POSITION SECURING A
FUTURE. THIS MEANS AN
ALL AMERICAN HIGH-TECH AVI
COMPANY CAN REALLY TO SEE THIS
MISSION OF ACCELERATING
WHITE SPREAD UP THE ADOPTION OF
SUSTAINABLE MOBILITY.
>> CERTAINLY THERE AND I HAVE
TALKED PETITION IN THE KIND OF
HIGH VALUE HIGH COST SEGMENT OF
THIS MARKET IN
THE PAST. I WONDER AS YOU LOOK
TOWARDS SOME OF THE SAME
PLAYERS ACROSS THE WORLD AND
ACROSS THE BROADER AUTOMOBILE
SPACE AS THEY ARE REVVING UP
THEIR OWN ABILITY TO BRING
VEHICLES TO MARKET HOW YOU KIND
OF PARSE THROUGH SOME OF THOSE
RISK FACTORS
AND REALLY UNDERSTAND OVER
THESE NEXT KIND OF 12 TO 18
MONTHS WHAT THE PROSPECTS ARE
FOR LUCID MOTORS AND BE ABLE TO
CONTINUOUSLY PRODUCE AND
OUTPACE SOME OF THOSE
COMPETITORS AS WELL AND GREEN
VEHICLES TO THE MARKET AND MORE
SUSTAINABLE MANNER.
>> INDEED WHAT WE'RE AIMING AT
SO THE LUXURY MARKETS OF ITALY
TARGETING CITIES
AND SCHOOLS. BUT I KNEW OF THE
BEST MITIGATION OF RISK IS HAVE
THE
MOST ADVANCED TECHNOLOGY AND WE
CAN PLANT THE TOP TABLE WAS
ONLY THROUGH
THE TOP IF YOU'RE THE BEST AND
THIS IS A TECHNOLOGY RACE AND I
THINK THAT'S WHAT
DIFFERENTIATES TESLA TESLA
RECOGNIZES THIS IS
A TECHNOLOGY. LAI LU SAID
RECOGNIZES THIS AND I DON'T SEE
THAT WITH SOME OF THE
TRADITIONAL
CAR COMPANIES. YOU KNOW EVEN
JUST LAST WEEK, JAKE, YOU ARE
NOW JUST
THAT CANCELS THE XJ ELECTRIC
PROGRAM SO I WISH THE
TRADITIONAL TO MAKE US WOULD
COME SOON IS ACTUALLY WELCOME
THE COMPETITION. I DON'T SEE IT
AS A THREAT. I'M CONFIDENT IN
OUR TANK.
>> AND CERTAINLY WITH REGARD TO
WHAT WE'VE SEEN FROM COME
PREDATORS IN THE
PAST AND IN TESLA NOTABLY AND
YOU KNOW THIS FROM BEING
ONE OF THE TOP 2 EXECUTIVES
THAT WERE OVER THERE PREVIOUSLY
AND THAT IS A HEAVY CASH FROM
BUSINESS IN THE EARLY DAYS AND
SO HOW DO YOU COMBAT THAT LATER
ON DO YOU ANTICIPATE HAVING TO
TAKE ON MORE CAPITAL AND AT
WHAT POINT.
>> WE DO BECAUSE UNASHAMEDLY WE
RECOGNIZE THIS IS A CAPITAL
INTENSIVE BUSINESS. WE BELIEVE
IN VERTICAL INTEGRATION ALL OF
THE MANUFACTURING
BECAUSE THIS IS TOO CRITICAL OF
PRICES TO INTEREST A
3RD PARTY. IN ANY CASE SOMEONE
HAS TO PAY FOR ME AND IF YOU'RE
OUT STILL SITS. IT WILL KILL
YOU
WITH MARGINS. IT'S A FALSE
ECONOMY SO WHY NOT CONTROL IT
AND HAVE CONTROL OF
YOUR DESTINY. THE OTHER
CAPITAL INTENSIVE. BUSINESSES
WHAT YOU SEE HERE TODAY THIS
ISN'T A AN ARTIFICIAL BACKDROP,
THIS I'M ACTUALLY IN A FLAGSHIP
STORE IN BEVERLY HILLS THE
KILLER ISRAEL BEHIND ME.
THIS IS AN EXAMPLE OF
A CUSTOMER STUDIO TO EXPERIENCE
TO COME.
SO THAT'S GOING TO COME
INTEGRATED AS WELL, BUT WE DO
HAVE SECOND MOVE ADVANTAGE IN
ONE AREA WE'VE PARTNERED WITH
ELECTRIFY AMERICA FOR THEIR
FAST CHARGING NETWORK. WE
CAN LEVERAGE STAFF 1000 VOTES,
350 KILOWATT OPEN SOURCE
CCS COMBO SPEND IT
AND THEREFORE WE CAN SIT LIGHT
IN THAT RESPECT AND SAVE
PRECIOUS CAPITAL WHICH WE CAN
INVEST IN R AND D AND
THE PRODUCT.
>> PETER ONLY HAVE ABOUT 30
SECONDS LEFT HERE BUT AS WE
THINK ABOUT WHERE OTHER PLAYERS
IN THIS INDUSTRY HAVE BEEN ABLE
TO ACCELERATE IT
IS ENTRY INTO OTHER MARKETS
OTHER COUNTRIES AND SO AFTER
YOU SUCCESSFULLY ARE ABLE TO
BREAK INTO YOUR YOUR LEAD
MARKET IF
YOU WILL WHERE DO YOU KIND OF
PRIORITIZE OTHER MARKETS
WHETHER THAT BE CHINA WHETHER
THAT THE EURO.
>> HOME MARKET US A FIRST
THIS YEAR GOING TO EUROPE AND
THE MIDDLE EAST NEXT YEAR AND
THEN THE BIG PRIZE, THE BIG