Feb 23, 2021
Electric vehicle startup raises $4 billion in SPAC offering to compete against Tesla
This news has been received from: CNN
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(CNN Business)Luxury electric vehicle startup Lucid Motors went public after a merger with "blank-check" firm Churchill Capital Corp IV, in the largest deal yet between a SPAC and an electric car company.The deal left Lucid with a potential valuation of $9.17 billion as of this writing, and will give more than $4 billion in cash to Lucid Motors. The transaction will be used to expand Lucid's Arizona factory, the company said, which it eventually expects to be capable of producing 365,000 vehicles a year.Lucid is trying to compete directly with Tesla. Peter Rawlinson, the CEO of Lucid, helped develop the Model S sedan while working at Tesla from 2009 to 2012. Tesla, the most valuable automaker in the world by market capitalization, sells the Model S, an electric luxury sedan that starts at $73,990, with long-range variants also having a range of just over 500 miles.
News Source: CNN
Man Accused Of Leading Pa. State Police On High Speed Chase After Fleeing Traffic Stop
By: KDKA-TV News Staff
Police say that 28-year-old Anthony Smith is wanted by police in connection with an incident that took place on Friday night in Harmar Township.
According to police, on Friday evening around 5:30 p.m, a tan Honda Pilot was seen driving north on State Route 28 without temporary tags and a bag of white substance was seen being thrown from the vehicle.
Police then pulled the vehicle over. During the traffic stop, after police asked Smith for identification, he turned on the vehicle and fled the scene.READ MORE: COVID-19 In Pittsburgh: North Hills Nursing Home Residents Receive 2nd Vaccine Doses
Smith then allegedly led police on a high speed chase through Harmar and Springdale. During the chase, Smith turned the vehicle around, hitting the front of the police cruiser, as well as hitting an unattended vehicle.
Police say Smith may be in the Springdale, Penn Hills, or McKeesport areas and damage is likely expected to the front right fender of the previously mentioned Honda Pilot.
Police say Smith should be considered dangerous.MORE NEWS: Thousands Of Families Attend Lawrence Co. Food Distribution
Anyone with information about Smith’s whereabouts is asked to contact Trooper Vaccaro at the State Police Kittanning Barracks at 724-543-2011.