The American electric truck manufacturer Nikola Motor is threatened with exclusion from the US stock exchange Nasdaq. Because the share price was below one US dollar per share for 30 consecutive days, Nikola no longer complies with Nasdaq regulations.
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The Vietnamese electric car manufacturer VinFast is headed to Wall Street. VinFast has therefore agreed to a business combination with exchange shell Black Spade Acquisition.
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Lithium companies Livent and Allkem are merging in a US$10.6 billion stock deal to create the world’s third-largest producer of lithium chemicals by volume.
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In a filing to the SEC, electric vehicle start-up Lordstown Motors warns that it may go bankrupt against the backdrop of contract manufacturer Foxconn walking away from a crucial deal. And there is also Lordstown own share price.
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Sakuu, a California-based developer of 3D-printed solid-state batteries, will become a publicly traded company. To do so, it will merge with the special purpose acquisition company (SPAC) Plum Acquisition Corp. I.
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Northvolt is preparing to go public in the next twelve months, according to insider sources. The Swedish battery company could be valued at over $20 billion.
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Ford has sold off a large part of its Rivian shares. According to a notification from Rivian to the US Securities and Exchange Commission (SEC), Ford’s stake in Rivian is now only 1.15 per cent.
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California-based electric car start-up Canoo is looking to raise around 52.5 million dollars through share sales at a steeply discounted rate. Agreements with several investors have already been reached, but the deals have yet to be completed.
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Allegations by Hindenburg Research are once again causing a company to falter. The short seller accuses the Indian conglomerate Adani Group of price manipulation and accounting fraud, causing Adani’s share price to plummet. Adani, which is also involved in eMobility projects, denies the allegations.
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The Geely subsidiary Lotus has announced its intention to list its electric car division Lotus Technology on the stock exchange. Accordingly, the plan is to list on the US stock exchange Nasdaq through a merger with L Catterton Asia Acquisition Corporation, which is already listed there.
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Swiss technology group ABB has raised a further 325 million Swiss francs from four investors, including Porsche SE, for its e-mobility division with its charging station business in the second and final round of its pre-IPO private placement.
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Zeekr has confidentially filed for a US public offering to raise over $1 billion in capital, according to inside sources. Zeekr lodged its filings with US regulators last week and is planning to go public in New York as early as the second quarter of 2023.
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The battery cell manufacturer SVOLT, which emerged from the Chinese carmaker Great Wall, has applied for its IPO in China. The listing on the Star Market technology exchange is expected to bring SVOLT 15 billion yuan (around 2 billion euros).
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Elon Musk has dumped another 19.5 million Tesla shares worth $3.95 billion. Musk now still holds around 14 per cent of Tesla. The value of Tesla shares has fallen to its lowest level in almost a year and a half.
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Things at the British electric vehicle start-up Arrival apparently continue to be anything but smooth. After the strategic reorientation of the company, there are now media reports that an Arrival electric delivery van caught fire during a demonstration for the customer UPS.
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Geely’s premium electric subsidiary Zeekr has unveiled its second model and is now accepting reservations for the Zeekr 009 in China. Separately, Geely plans to spin off Zeekr and list it on the Hong Kong Stock Exchange.
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GAC Aion has completed a financing round of 18.29 billion yuan (2.56 billion euros), in which 53 investors participated. The option of an IPO will probably now be explored with the strategic investors.
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Harley-Davidson has completed the announced IPO of its electric motorbike brand LiveWire via a SPAC merger with the exchange shell AEA-Bridges Impact Corporation (ABIC). In addition, the second series model Del Mar can be reserved again.
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Elon Musk has sold 7.92 million Tesla shares worth 6.9 billion dollars in the past few days. However, the sales have nothing to do with Tesla itself – Musk is preparing to potentially have to buy Twitter.
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The Chinese battery cell manufacturer and Volkswagen partner Gotion High-Tech has been listed on the Swiss stock exchange (SIX) as part of the first group of companies from China that managed to do so.
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Elon Musk announced at the Tesla AGM that the company might announce the location for another factory in North America before the end of the year. In addition, as expected, the AGM approved another three-to-one stock split.
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Aachen-based electric car manufacturer Next.e.GO Mobile has agreed a business combination with the SPAC Athena Consumer Acquisition. The merged company is to be listed on the New York Stock Exchange.
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Renault has now confirmed that it has launched a strategic review into a spin-off of its electric car business – and provides more details. Specifically, a separate company in France could be dedicated to the development, production and distribution of electric vehicles and software.
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The US electric car start-up Rivian has presented its business figures for the first quarter of 2022. The net loss in the first three months of the year was 1.59 billion US dollars, compared to 414 million US dollars in the same quarter of the previous year. Compared to Q4 2021, however, the loss fell.
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Hardly any other topic is currently as polarising as Elon Musk’s takeover of Twitter. Tesla’s shares lost eleven per cent or 114 billion US dollars in value after the deal was announced. Henrik Fisker, head of the electric car manufacturer Fisker, and Musk rival for many years, immediately deleted his Twitter account.
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The battery analytics company Twaice has secured additional Series B funding of 30 million US dollars from investor Coatue and existing investors. The Munich-based company plans to use the money to further develop its platform and open new locations.
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Renault is rumoured to be considering a partial sale of its roughly 43 per cent stake in Nissan as part of the possible spin-off and IPO of its electric car business. What impact this would have on the alliance and the joint electric platforms is an open question.
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A few days ago, a stock market service circulated the news that Tesla had bought the exploration company Lithium Corporation. Later it turned out that the announcement was apparently a deliberate hoax to increase the value of the lithium company’s share.
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Hindenburg Research is once again making serious allegations of fraud against an electric car start-up. This time, the US company Mullen Automotive has been targeted by the short seller. Hindenburg accuses Mullen of having deceived its investors.
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Gogoro has completed its IPO in the US. The Taiwanese electric scooter and battery exchange provider completed its merger with the special purpose vehicle Poema Global and is now listed on Nasdaq under the ticker symbols ‘GGR’ and ‘GGROW’.
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