SPAC Boom Ahead As EV Transition Could Cost $2.5T

2020 was a banner year for electric vehicle SPACs with Nikola, Fisker, Lordstown Motors, Canoo, and XL Fleet Corp among companies going public via a reverse merger with a special-purpose acquisition company.

by Charged Fleet Staff

January 14, 2021

SPAC Boom Ahead As EV Transition Could Cost $2.5T — *Photo: ELMS*

1 min to read

Underscoring the potential market penetration of the ELMS Urban Delivery van, the company on Dec. 11, 2020 announced an agreement with a special purpose acquisition company (SPAC) called Forum Merger III Corporation (Nasdaq: FIII) for a business combination that would result in ELMS becoming publicly traded.
*Photo: ELMS*

The number of electric vehicle Special Purpose Acquistion Company (SPAC) deals may rise in the years to come as the world pivots to full EV adoption and looks for ways to raise money to fund the transition that could cost up to $2.5 trillion, according to Bank of America.

SPAC and electric vehicle trends Business Insider article

Topics:Electric Vehicles finance vehicle manufacturers Green Fleet Fleet Forward Global Fleet

Originally posted on Charged Fleet

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