and posted in Technology

Lucid Motors, the Saudi-backed start-up electric car company that is expected to go public through a blank check, will meet the deadline for the start of production and delivery of its first electric car this year.

The company has finished preparing for production after a series of delays, executives confirmed Tuesday in a conference call with investors, days before shareholders voted to list it.

Shares of Churchill Capital, the special purpose buyout company that merged with Lucid Motors, rose as much as 2.3% in after-hours trading, before later paring gains.

Lucid Motors, the Saudi-backed start-up electric car company that is expected to go public through a blank check, will meet the deadline for the start of production and delivery of its first electric car this year.

The company has finished preparing for production after a series of delays, executives confirmed Tuesday in a conference call with investors, days before shareholders voted to list it.

Shares of Churchill Capital, the special purpose buyout company that merged with Lucid Motors, rose as much as 2.3% in after-hours trading, before later paring gains.