Bitcoin prices remain under pressure. Here is one new reason why.
Wells Fargo Automotive & Mobility Analyst Colin Langan joins Yahoo Finance to discuss the future of the electric vehicle market as increased investment in EV innovation is driving up competition in the automotive industry.
Over the past several months after announcing that it will merge with special purpose acquisition company (SPAC) Churchill Capital IV (NYSE: CCIV), electric vehicle (EV) start-up Lucid Motors has been opening more studios around the U.S. while also ramping up advertising campaigns to raise brand awareness. Lucid even cleverly bought an ad spot during Elon Musk's appearance on Saturday Night Live last month, knowing that the Tesla CEO would attract a receptive audience. Lucid is heading in the final stretch before both entering production as well as closing its de-SPAC transaction with Churchill Capital IV.