Amid swirling rumors that electric vehicle maker Lucid Motors may end up building EVs for Apple’s Project Titan “Apple Car,” Lucid shares, which is merging with Churchill Capital Corp IV (CCIV), surged more than 10% on Monday.
The internet thinks that Lucid Motors and Apple are working together to build a new class of super-cool electric vehicles. This belief stems mostly from two things.
One, when asked in a recent interview whether or not Apple had approached Lucid Motors, Lucid’s CEO declined to comment — which, in business speak, almost usually means “yes.” Two, Apple’s legendary former chief designer — Jony Ive — is on the board at Lucid…
The market believes Lucid Motors/Apple rumors, because they’re believable — and they’re believable because Lucid Motors has the most talented team of managers, engineers, and designers in the EV space outside of maybe Tesla.
MacDailyNews Take: Some company is going to assemble “Apple Car,” but the identity of that partner changes like the wind, so, outside of some fun speculation, we’ll just wait and see if it’s Lucid Motors or Magna Steyr or someone else. The only way to be sure you’re investing in “Apple Car,” if it ever comes to market, is currently via AAPL.