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Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Video Breaking News Premium Articles Community My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 10 mins 61.69 -0.01 -0.02% Brent Crude • 10 mins 65.41 +0.17 +0.26% Natural Gas • 10 mins 2.889 -0.064 -2.17% Mars US • 16 hours 59.51 -1.32 -2.17% Opec Basket • 2 days 62.00 +0.70 +1.14% Urals • 63 days 42.22 +0.00 +0.00% Louisiana Light • 2 days 64.37 +2.55 +4.12% Louisiana Light • 2 days 64.37 +2.55 +4.12% Bonny Light • 2 days 62.83 +0.74 +1.19% Mexican Basket • 2 days 60.10 +2.03 +3.50% Natural Gas • 10 mins 2.889 -0.064 -2.17% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

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1D 1M 3M 1Y All Charts Discussion Headlines 40 mins Saudi Arabia’s Longest-Serving Oil Minister Dies At 90 1 hour Luxury Tesla Competitor Ready To Go Public Following $11 Billion Deal 3 hours Battery Start-up To Build Gigafactory In Norway 4 hours Petrobras CEO Ousting Triggers $13B Stock Loss 21 hours Saudi Arabia And Russia Are Headed For Another Clash On OPEC+ Oil Cuts 22 hours India’s Oil Imports From North America Break Another Record 1 day Tesla’s Cheapest Model Y Is No Longer Available 1 day Iraq Pauses Massive Prepaid Oil Deal With China As Prices Soar 1 day Brazil President Ousts Petrobras CEO 4 days Texas May Lack Authority To Enforce Ban On Natural Gas Exports 4 days Some Of Texas‘ Biggest Refineries Could Take Weeks To Restart 4 days ERCOT Declares “End” To Texas “Emergency Conditions” 4 days Pemex’s Oil Production Increase Is More Illusion Than Reality 4 days Mexican President Urges Population To Conserve Energy Amid Power Shortage 4 days Ford To Go All-Electric In Europe By 2030 5 days Mexico Overhauls Its Huge Oil Hedge 5 days Tesla Model 3 Is Consumer Reports’ Top Pick For Electric Car 5 days U.S. LNG Exports Set To Exceed Pipeline Gas Exports Next Year 5 days Why Investors Are Buying Bonds Of The World’s Most Indebted Oil Company 5 days Volkswagen Shares Jump After News Of Possible Porsche Listing 5 days Iraq Boosts Oil Exports In Early February Despite OPEC+ Pledge 5 days Texas Governor Bans Natural Gas Exports 6 days WTI Climbs Above $61 As Crude Stocks Dwindle 6 days Saudi Arabia Warns Oil Producers To Remain “Extremely Cautious” 6 days BP Launches Award Scheme To Rally Employee Support For Renewables 6 days Russia, Saudi Arabia Vow Continued Coordination In Oil Policy 6 days Gasoline Prices Could Hit $3 7 days Tesla Prepares To Build EV Factory In India 7 days Where Did The ‘Missing Barrels’ From 2020s Oil Glut Go? 7 days China Looks To Curb Exports Of Rare Earth Minerals To The U.S. 7 days Norway Averts Oil Strike At Its Largest Refinery 7 days U.S. Natural Gas Crisis Spills Into Mexico 7 days Jaguar Becomes All-Electric From 2025 8 days US Administration Cancels Gulf Of Mexico March Oil & Gas Lease Sale 8 days Arctic Winter In Texas Prompts Rotating Power Outages 8 days Scientists Use Lithium To Control Heat In Nuclear Fusion Reactors 8 days India Boosts Spot Oil Imports As Major OPEC Producers Cut Supply 8 days Shell Shuts Down 310,000 Bpd Deer Park Refinery 8 days Hundreds Of Fuel Tanker Trucks Explode At Iran-Afghanistan Border 11 days Is China Headed To Peak Oil Demand? 4 minutes IMPORTANT ARTICLE BY OILPRICE.COM EDITOR – “Naked Short Selling: The Truth Is Much Worse Than You Have Been Told” 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova 7 minutes United States LNG Exports Reach Third Place 14 mins Texas forced to have rolling black outs. Not from downed power line , but because the wind energy turbines are frozen. 3 mins Wednesday Nikki Haley reached out to Trump for meeting at Mar-a-lago. Trump said No ! You blew it Nikki . . . 5 hours Disaster looming in UK offshore wind power 5 hours The good ol’ days. 2 hours NYT:  The Supreme Court’s order (Re:  Trump’s tax returns) set in motion a series of events that could lead to the startling possibility of a criminal trial of a former U.S. president 15 hours U.S. Presidential Elections Status – Electoral Votes 7 hours Germany and France Snub BIden Re China 15 hours The latest GOP nonsense on Texas shows us the future Republicans want 5 hours Minerals, Mining and Industrial Ecology 18 hours Scientist clone endangered Black Footed Ferret from Ferret that died 30 years ago . It’s a 100% exact genomic match. 2 hours The Cyberpandemic has Begun: SolarWinds + FireEyeGmail & Google services down 1 day The World Economic Forum & DavosSetting the agenda on fossil fuels, global regulations, etc. Breaking News: Saudi Arabia’s Longest-Serving Oil Minister Dies At 90

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Home Latest Energy News Irina Slav

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Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Video Breaking News Premium Articles Community My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 10 mins 61.69 -0.01 -0.02% Brent Crude • 10 mins 65.41 +0.17 +0.26% Natural Gas • 10 mins 2.889 -0.064 -2.17% Mars US • 16 hours 59.51 -1.32 -2.17% Opec Basket • 2 days 62.00 +0.70 +1.14% Urals • 63 days 42.22 +0.00 +0.00% Louisiana Light • 2 days 64.37 +2.55 +4.12% Louisiana Light • 2 days 64.37 +2.55 +4.12% Bonny Light • 2 days 62.83 +0.74 +1.19% Mexican Basket • 2 days 60.10 +2.03 +3.50% Natural Gas • 10 mins 2.889 -0.064 -2.17% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

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Marine • 2 days 61.34 +0.54 +0.89% Murban • 2 days 61.48 +0.33 +0.54% Iran Heavy • 2 days 60.74 +1.01 +1.69% Basra Light • 2 days 64.41 +1.86 +2.97% Saharan Blend • 2 days 63.39 +0.69 +1.10% Bonny Light • 2 days 62.83 +0.74 +1.19% Bonny Light • 2 days 62.83 +0.74 +1.19% Girassol • 2 days 63.84 +0.81 +1.29% Opec Basket • 2 days 62.00 +0.70 +1.14% OPEC Members Monthly Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

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Canadian Crude Index • 2 days 50.18 +2.54 +5.33% Western Canadian Select • 13 hours 49.95 +2.54 +5.36% Canadian Condensate • 13 hours 60.70 +2.44 +4.19% Premium Synthetic • 13 hours 62.10 +2.44 +4.09% Sweet Crude • 13 hours 59.20 +2.44 +4.30% Peace Sour • 13 hours 56.20 +2.44 +4.54% Peace Sour • 13 hours 56.20 +2.44 +4.54% Light Sour Blend • 13 hours 58.45 +2.44 +4.36% Syncrude Sweet Premium • 13 hours 60.20 +2.44 +4.22% Central Alberta • 13 hours 56.35 +2.44 +4.53% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

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Louisiana Light • 2 days 64.37 +2.55 +4.12% Domestic Swt. @ Cushing • 2 days 58.00 +1.25 +2.20% Giddings • 2 days 51.75 +1.25 +2.48% ANS West Coast • 5 days 62.15 -0.78 -1.24% West Texas Sour • 2 days 55.44 +0.97 +1.78% Eagle Ford • 2 days 59.39 +0.97 +1.66% Eagle Ford • 2 days 59.39 +0.97 +1.66% Oklahoma Sweet • 2 days 58.00 +1.25 +2.20% Kansas Common • 2 days 51.75 +2.25 +4.55% Buena Vista • 2 days 67.88 +2.25 +3.43% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

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1D 1M 3M 1Y All Charts Discussion Headlines 40 mins Saudi Arabia’s Longest-Serving Oil Minister Dies At 90 1 hour Luxury Tesla Competitor Ready To Go Public Following $11 Billion Deal 3 hours Battery Start-up To Build Gigafactory In Norway 4 hours Petrobras CEO Ousting Triggers $13B Stock Loss 21 hours Saudi Arabia And Russia Are Headed For Another Clash On OPEC+ Oil Cuts 22 hours India’s Oil Imports From North America Break Another Record 1 day Tesla’s Cheapest Model Y Is No Longer Available 1 day Iraq Pauses Massive Prepaid Oil Deal With China As Prices Soar 1 day Brazil President Ousts Petrobras CEO 4 days Texas May Lack Authority To Enforce Ban On Natural Gas Exports 4 days Some Of Texas‘ Biggest Refineries Could Take Weeks To Restart 4 days ERCOT Declares “End” To Texas “Emergency Conditions” 4 days Pemex’s Oil Production Increase Is More Illusion Than Reality 4 days Mexican President Urges Population To Conserve Energy Amid Power Shortage 4 days Ford To Go All-Electric In Europe By 2030 5 days Mexico Overhauls Its Huge Oil Hedge 5 days Tesla Model 3 Is Consumer Reports’ Top Pick For Electric Car 5 days U.S. LNG Exports Set To Exceed Pipeline Gas Exports Next Year 5 days Why Investors Are Buying Bonds Of The World’s Most Indebted Oil Company 5 days Volkswagen Shares Jump After News Of Possible Porsche Listing 5 days Iraq Boosts Oil Exports In Early February Despite OPEC+ Pledge 5 days Texas Governor Bans Natural Gas Exports 6 days WTI Climbs Above $61 As Crude Stocks Dwindle 6 days Saudi Arabia Warns Oil Producers To Remain “Extremely Cautious” 6 days BP Launches Award Scheme To Rally Employee Support For Renewables 6 days Russia, Saudi Arabia Vow Continued Coordination In Oil Policy 6 days Gasoline Prices Could Hit $3 7 days Tesla Prepares To Build EV Factory In India 7 days Where Did The ‘Missing Barrels’ From 2020s Oil Glut Go? 7 days China Looks To Curb Exports Of Rare Earth Minerals To The U.S. 7 days Norway Averts Oil Strike At Its Largest Refinery 7 days U.S. Natural Gas Crisis Spills Into Mexico 7 days Jaguar Becomes All-Electric From 2025 8 days US Administration Cancels Gulf Of Mexico March Oil & Gas Lease Sale 8 days Arctic Winter In Texas Prompts Rotating Power Outages 8 days Scientists Use Lithium To Control Heat In Nuclear Fusion Reactors 8 days India Boosts Spot Oil Imports As Major OPEC Producers Cut Supply 8 days Shell Shuts Down 310,000 Bpd Deer Park Refinery 8 days Hundreds Of Fuel Tanker Trucks Explode At Iran-Afghanistan Border 11 days Is China Headed To Peak Oil Demand? 4 minutes IMPORTANT ARTICLE BY OILPRICE.COM EDITOR – “Naked Short Selling: The Truth Is Much Worse Than You Have Been Told” 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova 7 minutes United States LNG Exports Reach Third Place 14 mins Texas forced to have rolling black outs. Not from downed power line , but because the wind energy turbines are frozen. 3 mins Wednesday Nikki Haley reached out to Trump for meeting at Mar-a-lago. Trump said No ! You blew it Nikki . . . 5 hours Disaster looming in UK offshore wind power 5 hours The good ol’ days. 2 hours NYT:  The Supreme Court’s order (Re:  Trump’s tax returns) set in motion a series of events that could lead to the startling possibility of a criminal trial of a former U.S. president 15 hours U.S. Presidential Elections Status – Electoral Votes 7 hours Germany and France Snub BIden Re China 15 hours The latest GOP nonsense on Texas shows us the future Republicans want 5 hours Minerals, Mining and Industrial Ecology 18 hours Scientist clone endangered Black Footed Ferret from Ferret that died 30 years ago . It’s a 100% exact genomic match. 2 hours The Cyberpandemic has Begun: SolarWinds + FireEyeGmail & Google services down 1 day The World Economic Forum & DavosSetting the agenda on fossil fuels, global regulations, etc. Breaking News: Saudi Arabia’s Longest-Serving Oil Minister Dies At 90

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Home Latest Energy News Irina Slav

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Share Facebook Twitter Google + Linkedin Reddit Related News Iraq Pauses Massive Prepaid Oil Deal With China As Prices Soar Brazil President Ousts Petrobras CEO Texas May Lack Authority To Enforce Ban On Natural Gas Exports Some Of Texas‘ Biggest Refineries Could Take Weeks To Restart ERCOT Declares “End” To Texas “Emergency Conditions” Luxury Tesla Competitor Ready To Go Public Following $11 Billion Deal By Irina Slav – Feb 23, 2021, 12:30 PM CST Lucid Motors, an EV maker targeting the luxury segment, will merge with a special-purpose acquisition company to go public in a deal worth $11.75 billion, valuing the company at $24 billion.

Reuters reported that the deal involves an investment of $2.1 billion from the SPAC, Churchill Capital IV Corp, and a private investment in public equity worth $2.5 billion from a number of investors.

Reports that Lucid Motors was planning to go public first emerged in January, with the Los Angeles Times recalling how the Saudi government had saved the company from going under with a cash injection of $1.3 billion. The report went on to say both the Saudi backers of the company and its board members stood to reap hefty gains from a listing deal.

The size of the combined company’s value is the latest proof of an exceptionally bullish market for electric vehicle shares. Recall the listing of Nikola—another EV startup that also listed through a merger with a SPAC—which saw the company’s shares skyrocket in the first days of trading.

However, the Nikola story , if anything, is a cautionary one as problems began surfacing soon after its stock market debut. Yet it hasn’t so far dampened investors’ appetite for EV shares.

Related: Oil Is Hot Again, But For How Long?

Lucid Motors is run by a former Tesla engineer and will initially target the high-end EV market with its Lucid Air, scheduled for launch in the second half of this year. This is a slight delay on original plans to release the luxury sedan in the spring of this year. Still, delays of this sort are nothing extraordinary in the industry as market leader Tesla has proved time and again.

The company will manufacture the cars at its factory in Arizona, whose first phase Lucid only finished last year. During this phase, the factory will have the capacity to produce 30,000 cars per year, eventually ramping up to 400,000.

By Irina Slav for Oilprice.com

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