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Toyota-backed Startup Joby Aviation is Seeking to Go Public in a $5 Billion SPAC Deal

Toyota-backed Startup Joby Aviation is Seeking to Go Public in a $5 Billion SPAC Deal

The latest company reportedly seeking to go public via a SPAC deal is electric vertical takeoff and landing (VTOL) startup Joby Aviation, Reuters reports. The California aviation startup is exploring a deal to go public through a merger with a blank-check acquisition firm at a valuation of around $5 billion, according to people familiar with the matter who asked to remain anonymous because the discussions are confidential.

FutureCar Staff 2021-01-22 10:45 PT

San Francisco Lidar Startup Ouster to Go Public in a Deal Worth $1.9 Billion

San Francisco Lidar Startup Ouster to Go Public in a Deal Worth $1.9 Billion

​San Francisco-based Lidar company Ouster has agreed to go public in a deal that would value the company at $1.9 billion. Ouster plans to merge with special purpose acquisition company (SPAC) Colonnade Acquisition Corp. (NYSE: CLA).

Eric Walz2020-12-22 14:05 PT

Lidar Startup Innoviz Technologies to Go Public in a $1.4 Billion SPAC Deal, Shares Will be Listed on the NASDAQ

Lidar Startup Innoviz Technologies to Go Public in a $1.4 Billion SPAC Deal, Shares Will be Listed on the NASDAQ

Lidar startup Innoviz Technologies is set to become the third lidar company to go public in recent months in a merger with special purpose acquisition company (SPAC) Collective Growth Corporation. The transaction is expected to close in the first quarter of 2021. The combined company is expected to have an estimated equity value of approximately $1.4 billion and to be listed on NASDAQ under the ticker symbol “INVZ”.

Eric Walz2020-12-11 12:30 PT

Electric Vehicle Startup Xpeng Motors Plans to Sell Another 40 Million American Depositary Shares as Investor Interest Remains High

Electric Vehicle Startup Xpeng Motors Plans to Sell Another 40 Million American Depositary Shares as Investor Interest Remains High

Chinese electric vehicle startup Xpeng Motors plans to sell another 40 million American Depositary Shares (ADS) to the public, which represent 80 million Class A ordinary shares. The offering comes as companies developing electric vehicles and other related technology continue to be hot stocks for investors. Xpeng launched its U.S. IPO in August. The company’s shares are listed on the NYSE under the stock symbol "XPEV”.

FutureCar Staff 2020-12-08 17:30 PT

Lidar Startup Luminar Technologies Inc. Launches IPO, Making its 25-Year-Old Founder One of the World's Youngest Billionaires

Lidar Startup Luminar Technologies Inc. Launches IPO, Making its 25-Year-Old Founder One of the World's Youngest Billionaires

With billions of dollars pouring into electric vehicle stocks and related technology for self-driving cars, companies are turning to Wall Street to raise capital. The latest IPO in the space is lidar startup Luminar Technologies Inc. The lidar company has completed its business combination with a special purpose acquisition company (SPAC) Gores Metropoulos, Inc. to become a public company listed on the NASDAQ.

Eric Walz2020-12-04 11:50 PT

Silicon Valley Lidar Startup Aeva Inc. Agrees to go Public in a SPAC Deal That Will Value the Company at $2.1 Billion

Silicon Valley Lidar Startup Aeva Inc. Agrees to go Public in a SPAC Deal That Will Value the Company at $2.1 Billion

Silicon Valley lidar startup Aeva Inc said on Monday it has agreed to go public through a merger with special purpose acquisition company (SPAC) InterPrivate Acquisition Corp. The reverse merger deal will make Aeva the third lidar company seeking and IPO through a deal with a SPAC. The newly combined company will have an implied pro forma equity value of approximately $2.1 billion.

FutureCar Staff 2020-11-02 17:00 PT

Electric Truck Startup Lordstown Motors Debuts on the NASDAQ Under the Ticker Symbol ‘RIDE’

Electric Truck Startup Lordstown Motors Debuts on the NASDAQ Under the Ticker Symbol ‘RIDE’

​Electric truck startup Lordstown Motors Corp is now officially a public company after making its debut on the NASDAQ on Monday. The EV startup becomes the latest company to go public this year by merging with a special purpose acquisition company (SPAC) in order to attract new investments on Wall Street. Shares of Ohio-based Lordstown Motors are trading on the NASDAQ under the ticker symbol "RIDE."

Eric Walz2020-10-26 10:50 PT

Electric Vehicle Startup Faraday Future in Talks to go Public in a Reverse Merger Deal

Electric Vehicle Startup Faraday Future in Talks to go Public in a Reverse Merger Deal

​This year continues to be big for startups to launch IPO's via deals with special purpose acquisition companies (SPACs) in order to raise capital from investors on Wall Street. The latest company mulling a SPAC deal is financially troubled luxury electric vehicle startup Faraday Future. The company's CEO Carsten Breitfeld confirmed on Monday the company's plans to become a publicly traded company.

Eric Walz2020-10-06 16:45 PT

Electric Vehicle Charging Provider ChargePoint Nears Deal to Go Public, Sources Say

Electric Vehicle Charging Provider ChargePoint Nears Deal to Go Public, Sources Say

​Silicon Valley-based EV charging operator ChargePoint, one of the oldest and largest EV charging providers in the U.S., is close to a deal to go public in a reverse merger with Switchback Energy Acquisition Corp, source that requested anonymity told Reuters on Wednesday. The reverse merger deal could value the company at more than $2 billion.

FutureCar Staff 2020-09-16 14:00 PT

Xpeng Motors Pilots a EV Battery Leasing Option to Make its Electric Vehicles More Affordable

Xpeng Motors Pilots a EV Battery Leasing Option to Make its Electric Vehicles More Affordable

China’s rising electric car company Xpeng Motors will offer an electric vehicle leasing option for its electric vehicle battery packs, following its rival NIO in China. The leasing option will lower the cost of purchasing a new Xpeng vehicle by not charging the customer for the price of the battery up front.

Eric Walz2020-09-04 14:00 PT

Volkswagen-backed EV Battery Maker QuantumScape to go Public at $3.3 Billion Valuation

Volkswagen-backed EV Battery Maker QuantumScape to go Public at $3.3 Billion Valuation

Silicon Valley-based battery maker QuantumScape will become the latest company tuning to Wall Street to raise capital this year in a reverse merger deal with Kensington Capital Acquisition Corp.(NYSE: KCAC), a special purpose acquisition company (SPAC). The deal will result in Volkswagen-backed QuantumScape becoming a publicly listed company with an enterprise value of $3.3 billion.

Eric Walz2020-09-03 12:05 PT

China’s Electric Vehicle Startup NIO Takes Advantage of EV Market Upswing With New U.S. Share Sale

China’s Electric Vehicle Startup NIO Takes Advantage of EV Market Upswing With New U.S. Share Sale

China's electric vehicle maker and Tesla rival NIO is offering is 75 million American depositary shares (ADSs) with each one equal to one Class A ordinary share. The decision to present the share offering comes amid a resurgence in the electric vehicle industry led by Tesla.

FutureCar Staff 2020-08-28 12:25 PT

Shares of Chinese Electric Vehicle Startup Xpeng Motors Soar 54% After its U.S. IPO

Shares of Chinese Electric Vehicle Startup Xpeng Motors Soar 54% After its U.S. IPO

​Chinese electric vehicle startup Xpeng Motors launched its U.S. IPO on Friday, becoming the third Chinese EV startup to turn to the U.S. stock market to raise capital. Thursday Xpeng's shares soared 54%. The shares are trading on the NYSE under the stock symbol "XPEV."

Eric Walz2020-08-27 12:15 PT

China’s Xpeng Motors Increases the Size of its U.S. IPO to $1.5 Billion Due to Strong Demand From Investors

China’s Xpeng Motors Increases the Size of its U.S. IPO to $1.5 Billion Due to Strong Demand From Investors

​Chinese electric vehicle startup Xpeng Motors has increased the size of its U.S initial public offering (IPO) to about $1.49 billion, two sources with direct knowledge of the matter told Reuters.

Eric Walz2020-08-26 22:45 PT

XPeng Motors Valued at Over $8.4 Billion Files for U.S. IPO, the Company is Backed by Alibaba and Xiaomi

XPeng Motors Valued at Over $8.4 Billion Files for U.S. IPO, the Company is Backed by Alibaba and Xiaomi

As existing shareholders continue to increase investments in EVs and related technologies, new participants are optimistic about China's growing electric vehicle market. As a result, electric vehicle startup XPeng Motors has strong financial backing and stamina for future development. The company has cash reserves of 8.2 billion yuan (US$1.19 billion), and is ramping up its investment in R&D.

iAsk2020-08-26 20:30 PT

Silicon Valley Lidar Startup Luminar to Go Public in a Blank Check Deal at a $2.9 Billion Valuation

Silicon Valley Lidar Startup Luminar to Go Public in a Blank Check Deal at a $2.9 Billion Valuation

​Silicon Valley Lidar company Luminar Technologies Inc., which is backed by Swedish automaker Volvo and billionaire entrepreneur and venture capitalist Peter Theil, intends to go public in a reverse merger deal with Gores Metropoulos, Inc. (Gores Metropoulos), a special purpose acquisition company (SPAC).

Eric Walz2020-08-24 16:17 PT

China’s Xpeng Motors is Aiming to Raise $1.1 Billion in its U.S. IPO

China’s Xpeng Motors is Aiming to Raise $1.1 Billion in its U.S. IPO

The latest U.S. IPO for an electric automaker is coming from one of China’s rising electric vehicle startups Xpeng Motors. The company announced today that it plans to raise up to $1.11 billion in its upcoming debut on Wall Street.

Eric Walz2020-08-21 15:30 PT

California Electric Vehicle Startup Canoo Goes Public at a $2.4 Billion Valuation

California Electric Vehicle Startup Canoo Goes Public at a $2.4 Billion Valuation

Los Angeles-based electric vehicle startup Canoo Holdings Ltd is going public, becoming the latest electric vehicle startup turning to Wall Street to raise new capital. The company announced on Tuesday that it entered into an agreement with special purpose acquisition company (SPAC) Hennessy Capital Acquisition Corp IV.

Eric Walz2020-08-18 11:55 PT

Chinese Electric Automaker Xpeng Motors Files for U.S. IPO in Bid to Challenge Tesla

Chinese Electric Automaker Xpeng Motors Files for U.S. IPO in Bid to Challenge Tesla

Electric automaker Xpeng Motors is planning to list its shares on the New York Stock Exchange (NYSE), becoming the latest electric vehicle company to launch an IPO in the U.S. to raise new capital to challenge Tesla. Xpeng is hoping to cash in on the current investor trend of pouring money in new electric vehicle startups.

Eric Walz2020-08-09 10:00 PT

Electric Truck Startup Lordstown Motors to go Public in Blank-Check Reverse Merger Deal

Electric Truck Startup Lordstown Motors to go Public in Blank-Check Reverse Merger Deal

Electric truck startup Lordstown Motors has agreed to go public in a deal with blank-check company Diamond Peak Holdings. The deal is expected to close in the fourth quarter this year. The deal values the electric truck start-up at $1.6 billion, the companies announced on Monday.

Eric Walz2020-08-03 11:30 PT

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