What happened On Friday, Churchill Capital IV (NYSE: CCIV) was having a good day for a business that will soon cease to exist. The special purpose acquisition company's (SPAC) shares were up 4% in mid-afternoon trading following a crucial shareholder vote. So what Churchill will shortly merge with Lucid Motors, bringing the electric vehicle (EV) maker to the stock exchange as a publicly traded company. After Churchill extended the deadline for a shareholder vote, investors on Friday morning approved all seven proposals required to effect the merger. Image source: Lucid Motors. With that out of the way, Lucid will start trading as a proper stock on Monday. It will be listed on the Nasdaq under the ticker symbol LCID. Churchill's New York Stock Exchange shares are to be delisted. Lucid is sure to attract attention, as it's a pure electric vehicle play that will be considered an alternative to the sector's current king, Tesla (NASDAQ: TSLA). Like Tesla, Lucid focuses on the higher end of the EV market, although its first model -- the Lucid Air -- is comparatively pricey with its base model starting at nearly $70,000. Now what Unlike Tesla, Lucid doesn't yet have a vehicle on the market. But it's slated to begin deliveries of the Lucid Air in the second half of this year, and interest has been robust -- in late June, CEO Peter Rawlinson said the company had over 10,000 reservations for the model. As an "official" stock, Lucid is sure to be popular with the EV crowd. 10 stocks we like better than Churchill Capital Corp IVWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Churchill Capital Corp IV wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool recommends Nasdaq. The Motley Fool has a disclosure policy.Source