LG Energy Solution moves towards IPO
LG Energy Solution has applied to the Korea Exchange for preliminary approval of an IPO. The company is also taking a stake in the Australian battery materials supplier Queensland Pacific Metals (QPM).
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Volkswagen considers an IPO for their battery division
Volkswagen is considering an IPO for its new battery division. According to Chief Technology Officer Thomas Schmall, this does not involve individual plants but the entire cell business.
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Bird announces new scooter and IPO
Bird has presented its new electric pedal scooter and is planning to go public on the US stock exchange. Both major projects are to be implemented in parallel in the summer.
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Lion Electric selects US factory location, announces IPO
The Canadian electric utility vehicle manufacturer Lion Electric has selected the city of Joliet in the state of Illinois as the location for its production facility in the USA. At the same time, Lion Electric announced its IPO.
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Evergrande valued higher than GM but has sold no cars
Evergrande New Energy Vehicle, the electric car offshoot from the Chinese Evergrande Group, is now worth 87 billion US dollars on the stock market meaning it is valued higher than Ford or GM. The valuation is odd, as the company has yet to sell a single car.
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QuantumScape to open second pilot plant
Solid-state battery specialist QuantumScape plans to issue 13 million new shares. The expected proceeds of $859 million are to be invested in the company’s planned pilot plant and in the joint venture with Volkswagen. In connection with the joint venture, there is also talk of a second pilot plant.
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Proterra delivers batteries to Lightning eMotors
Proterra has won another customer for its batteries. An agreement now signed with US company Lightning eMotors that will see its Lightning Electric Transit electric delivery van fitted with batteries from Proterra.
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Volkswagen’s Tesla moment on the stock market
Volkswagen is experiencing a ‘Tesla moment’ in the stock market after the company presented details of its electric vehicle offensive a few days ago. The German carmakers share value rose so much that Germany’s market watchdog Bafin is taking a closer look.
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Vitesco to hit the stock market in the second half of 2021
The supervisory board of Continental AG has approved the planned spin-off of the powertrain division Vitesco Technologies with a subsequent listing on the stock exchange. In addition, Vitesco has moved into a new regional headquarters in China.
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Lucid Motors announces merger to go public
The electric car start-up Lucid Motors announced its intention to go public via a merger, confirming rumours from January. To this end, Lucid is merging with the listed investment company Churchill Capital IV (CCIV).
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Investors favour Powersports as Taiga goes public
Electric snowmobile and watercraft maker Taiga is going public through a SPAC deal and is raising a whopping 100 million CAD in its wake. The Montréal-based company had vowed to electrify powersports back in 2015 and today joins the growing number of EV makers looking to grow big on the stock exchange.
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United Airlines may add Archer air taxis to their fleet
United Airlines has approached eVTOL startup Archer to buy up to 200 of their air taxis. The agreement sees United lend their air space expertise “to assist Archer with the development of battery-powered, short-haul aircraft.”
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Amazon-backed Rivian looking for EV plant in Europe
The US electric car startup Rivian, supported by Amazon and Ford, is looking for European locations for a new plant. Germany, the United Kingdom and Hungary are among the countries under discussion, sources close to the matter said.
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Hyzon Motors goes public via merger
The US commercial fuel cell vehicle developer Hyzon Motors has announced a merger with the Nasdaq-listed Decarbonization Plus Acquisition Corporation. This merger is also about a quick IPO as has often been apparent in rapidly growing electric mobility companies lately.
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Ree Automotive to hit the stock market
The Israeli eMobility start-up Ree Automotive moves to the US stock exchange Nasdaq through a merger with the investment company, 10X Capital Venture Acquisition Corporation. The SPAC deal is expected to bring Ree about half a billion dollars.
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Norway’s Freyr merges to list on NYSE
Norway’s battery cell start-up Freyr is about to go public on the US stock exchange, again through merging with an already listed investment firm, Alussa Energy Acquisition Corporation (think SPAC).
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Faraday Future finds fusion partner for IPO
Faraday Future has found a partner for its IPO. After merging with investment company Property Solutions Acquisition, the new Faraday Future Inc. is to be traded on Nasdaq under the ticker symbol “FFIE”. The company has also signed a framework agreement with Geely.
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Evergrande shares raise over three billion dollars
Evergrande New Energy Vehicle, the electric car offshoot of the Chinese Evergrande Group, has again raised capital equivalent to around 3.35 billion US dollars by selling further shares to six China-based investors.
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BYD & Nio gather billions in funds
Chinese electric manufacturers BYD and Nio have raised fresh money. While BYD gained around 3.9 billion US dollars through the sale of new shares, Nio successfully placed two bonds totalling 1.5 billion dollars.
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Lucid Motors aims to go public via SPAC deal
Lucid Motors appears in talks to go public through a merger with a special purpose acquisition company (SPAC) belonging to investor Micheal Klein. The deal could be worth $15 billion (about €12.4Bn) for the electric vehicle maker.
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Proterra to go public via merger with ArcLight
Proterra, the U.S. manufacturer of electric buses, has announced its initial public offering through a merger with investment firm ArcLight Clean Transportation. Existing investor Daimler Trucks backs the deal.
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Tesla pauses Model S and X production
Production of the Model S and Model X in Fremont will be halted for just under three weeks. This is fuelling speculation that both models might be getting a refresh. Meanwhile, according to reports from China, Tesla has now also begun production of the performance version of the Model 3.
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Tesla announces further capital increase
Tesla has announced a capital increase of another five billion US dollars. This is already the second capital increase within three months. With the first increase at the beginning of September, Tesla aimed to raise up to five billion dollars by selling additional shares.
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The Lion Electric Company aims to go public
The Canadian electric truck and bus manufacturer The Lion Electric Company announced plans to become a publicly-traded company via a merger with special purpose acquisition company Northern Genesis Acquisition Corp. This will help them ramp up EV production.
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QuantumScape successfully goes public
The solid-state battery specialist and Volkswagen partner QuantumScape has now completed its announced IPO. On Friday, QuantumScape’s shares began trading on the New York Stock Exchange under the ticker symbol “QS”. The shares rose by around 50 per cent on the very first day of trading.
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Arrival goes public with CIIG Merger Corporation
The English electric commercial vehicle developer Arrival is planning to go public. This has been made possible via a merger with the CIIG Merger Corporation, for which a final agreement has now been signed.
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Tesla to join S&P 500 stock market in December
Tesla shares are now included in the S&P 500 stock market index after all. Tesla’s inclusion will take place on 21 December. In addition, Tesla has apparently found a new construction manager for the Gigafactory in Grünheide within its own ranks.
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Nuvve uses merger to enter the US stock market
The Californian Vehicle-to-Grid (V2G) specialist Nuvve has announced its intention to go public through a merger with the investment company Newborn Acquisition. After completion of the merger, the joint venture Nuvve Holding is expected to be listed on the US Nasdaq stock exchange under the ticker symbol “NVVE”.
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ChargePoint enters US stock market as CHPT
The charging infrastructure provider ChargePoint has announced its IPO. As with Nikola Motor, the IPO will take place through a merger, in this case with the investment firm Switchback Energy Acquisition.
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Short-seller Hindenburg tries taking down Nikola
Hindenburg Research raises serious fraud accusations against the prospective electric truck manufacturer Nikola. However, the “research” is anything but neutral, as the company itself has sold Nikola shares short and is thus profiting from any price losses resulting from the paper.
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