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Tesla has a slew of rivals coming for its crown, but it can hold on to its enormous market lead if it can focus on its vehicles and continue its global expansion.
Two years ago Tesla chief executive Elon Musk proudly claimed there was still no battery car that could compete with the Model S he launched in 2012. At the time, it was true — and even models from Porsche and Jaguar in 2020 failed to match the specs of his eight-year-old electric vehicle. “Still waiting,” Musk quipped.
Shares of Churchill Capital IV (NYSE: CCIV) plunged 18.5% on Wednesday, following the special purpose acquisition company's deal with electric vehicle maker Lucid Motors. Churchill's stock price surged to a high of $64.86 on Feb. 18 following reports that the SPAC was in talks to merge with Lucid. Churchill Capital IV's stock price is down sharply since announcing its deal with Lucid Motors.