Electric Vehicle-Related SPACs

A recent trend in the electric vehicle industry has been companies going public through “SPACs” – Special Purpose Acquisition Companies. SPACs go public without any commercial business operations, but then use the IPO funds to acquire existing businesses who then become public through the merger.

Companies getting acquired by a SPAC don’t go through the typical due diligence and road show with investment bankers, a process that can uncover business model weaknesses and shaky financials. In the last few months, at least eight EV-related companies have been acquired by SPACs, with ChargePoint, the California-based charging network being the latest this past week. It is going to be fascinating to have a look under the covers as all of these deals close and the companies report their financials in an upcoming quarter. Stay tuned …

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BEV-vs-PHEV-sales-percentage-mix-2011-Q3-2022

PHEV Sales Drop to 20% of Total EV US Sales Through Q3 2022

Sales of plug-in hybrid electric vehicles (PHEVs) in 2022 are expected to decline to less than 20%, the lowest share of total electric vehicle (BEV + PHEV) sales since 2011 according to analysis by EVAdoption of S&P Mobility data for the Alliance of Automotive Innovation.

BEV-vs-PHEV-sales-percentage-mix-2011-Q3-2022

PHEV Sales Drop to 20% of Total EV US Sales Through Q3 2022

Sales of plug-in hybrid electric vehicles (PHEVs) in 2022 are expected to decline to less than 20%, the lowest share of total electric vehicle (BEV + PHEV) sales since 2011 according to analysis by EVAdoption of S&P Mobility data for the Alliance of Automotive Innovation.