(Yicai Global) Feb. 25 -- Lucid Motors, a US car firm that is planning to go public via a merger, is considering setting up a plant in China, the company told a Chinese news outlet.

The auto firm has no specific plans for its models to enter the Chinese market, the Securities Times reported yesterday, citing the New Jersey-headquartered company.

Lucid Motors is working hard to launch its first vehicle, pure-electric luxury sedan Lucid Air, this year, and debut its high-performance sports-utility vehicle Gravity in 2023, it added.

Founded in 2007, Lucid Motors was originally known as Atieva which made batteries for electric buses in China. It has raised more than USD100 million from several Asian investors, including Faraday Future founder Jia Yueting and BAIC Motor.

On Feb. 22, Lucid Motors penned an agreement with special purpose acquisition company Churchill Capital IV to go public. The deal would provide the auto firm with about USD4.4 billion in cash and value it at USD11.8 billion.

The funds will be used to support the firm's expansion at its Arizona plant, which will have an annual production capacity of 365,000 vehicles.

Editor: Emmi Laine, Xiao Yi