Autos


Posts filtered by tags: SPAC[x]


 

Lucid Motors strikes SPAC deal to go public with $24 billion valuation

Lucid Motors reached an agreement to become a publicly traded company through a merger with special-purpose acquisition company Churchill Capital IV Corp, in the largest deal yet between a blank-check company and electric vehicle startup.  The combined company, in which Saudi Arabia’s sovereign fund will continue to be the largest shareholder, will have a transaction equity value of $11.75 billion. Private investment in the public equity deal is priced at $15 a share, putting the implied the p...
Tags: Transportation, Europe, Saudi Arabia, China, Tech, Tesla, Bloomberg, Automotive, Air, North America, Churchill, Cto, Lucid, SPAC, Audi BMW, Atieva


The Station: The lidar SPAC craze and 10 investors give their mobility predictions

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox.  Hi friends and new readers, welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. Before you get to reading The Station, a small update for you. As transportation editor — a new title I gained last month — I am focused on building a team and deepening our co...
Tags: Google, Transportation, Facebook, New York, Dick Costolo, California, New York City, Los Angeles, Tech, Bloomberg, Automotive, Porsche, Gm, Starwood, Silicon Valley, Bmw


Aeye becomes latest lidar company to go public via SPAC

Aeye, a lidar startup that developed its technology for use in autonomous vehicles as well as to support advanced driver assistance systems in passenger cars, is going public through a merger with CF Finance Acquisition Corp. III that will value the company at $2 billion. The agreement marks the latest lidar company to turn to so-called blank check companies or SPACs in lieu of a traditional IPO process. Velodyne Lidar kicked off the trend last summer when it announced that it planned to go publ...
Tags: Transportation, Tech, Automotive, Lidar, Continental, Cto, SPAC, EBITDA, Velodyne, Bob Brown, ADAS, LUMINAR, Luis Dussan, Blair LaCorte, AEye, Graf Industrial Corp


The Station: Archer Aviation’s two big scores, a boost for e-bikes and how Uber defines adjusted EBITDA

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox.  Hi friends and new readers, welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. There is quite a bit to get to this week, so let’s charge forward. Email me at [email protected] to share thoughts, criticisms, opinions or tips. You also can se...
Tags: Transportation, Lyft, Uber, Asia, Europe, Sweden, Congress, China, Softbank, US, Tech, Tesla, Nasa, Palo Alto, Automotive, United States


The Station: Archer Aviation’s two big scores, a boost for ebikes and how Uber defines adjusted EBITDA

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox.  Hi friends and new readers, welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. There is quite a bit to get to this week, so let’s charge forward. Email me at [email protected] to share thoughts, criticisms, offer up opinions or tips. You ca...
Tags: Transportation, Lyft, Uber, Asia, Europe, Sweden, Congress, China, Softbank, Tech, Tesla, Nasa, Palo Alto, Automotive, United States, Ford


Goldman Sachs is creating an auto-tech joint venture amid a SPAC boom for EV and lidar companies: Report

Lordstown Motors is one of the many EV companies that have gone public through SPACs over the past year. Lordstown Motors Goldman Sachs is creating a JV focused on automotive tech, Bloomberg reported. Auto-tech companies have been part of a number of acquisitions and public listings in recent years. They include Amazon's acquisition of Zoox and Nikola's SPAC merger. Visit the Business section of Insider for more stories. Goldman Sachs is forming an investment-banking joint venture that wil...
Tags: Amazon, Transportation, Finance, Cars, Trends, Tesla, Bloomberg, Goldman Sachs, Goldman, SPAC, Nikola, Friedland, Mark Matousek, Tesla Uber, Zoox, Rivian


Archer lands $1.1B order from United Airlines and a SPAC deal

Archer Aviation, the electric aircraft startup targeting the urban air mobility market, has landed United Airlines as a customer and an investor in its bid to become a publicly traded company via a merger with a special purpose acquisition company.  Archer Aviation said Wednesday it reached an agreement to merge with special purpose acquisition company Atlas Crest Investment Corp., an increasingly common financial path that allows the startup to eschew the once traditional IPO process. The co...
Tags: Transportation, Hollywood, Tech, Walmart, Automotive, Archer, New York Stock Exchange, United, United Airlines, Marc Lore, SPAC, Los Angeles International Airport, Kirby, Palo Alto California, Scott Kirby, Adam Goldstein


MetroMile says a website bug let a hacker obtain driver’s license numbers

Car insurance startup MetroMile said it has fixed a security flaw on its website that allowed a hacker to obtain driver’s license numbers. The San Francisco-based insurance startup disclosed the security breach in its latest 8-K filing with the U.S. Securities and Exchange Commission. MetroMile said a bug in the quote form and application process on the company’s website allowed the hacker to “obtain personal information of certain individuals, including individuals’ driver’s license numbers.” I...
Tags: Security, MetroMile, Uber, Articles, San Francisco, Insurance, Tech, Law Enforcement, Automotive, Security Breaches, Computing, Driver, Executive, Data Security, Startup Company, Computer Security


Rocket startup Astra is going public via SPAC

Rocket launch company Astra, which just reached space this past December with a test launch from Alaska, will be going public on the Nasdaq via a merger with a special purpose acquisition company (SPAC) called Holicity. The recent SPAC craze has already extended to the New Space sector, and Virgin Galactic was among those in this wave of a new path to public listing, so there is precedent for space launch in particular, but Astra will be the first to list on the Nasdaq. The terms of the deal wil...
Tags: Startups, TC, Transportation, Space, California, Cars, Tech, Alaska, Virgin Galactic, Darpa, Nasdaq, Aerospace, Blackrock, Exit, Kodiak, SPAC


Rocket startup Astra is going public vis SPAC

Rocket launch company Astra, which just reached space this past December with a test launch from Alaska, will be going public on the NASDAQ via a merger with a special purpose acquisition company (SPAC) called Holicity. The recent SPAC craze has already extended to the New Space sector, and Virgin Galactic was among the in this wave of a new path to public listing, so there is precedent for space launch in particular, but Astra will be the first to list on the NASDAQ. The terms of the deal will ...
Tags: TC, Transportation, Space, California, Cars, Tech, Ceo, Alaska, Virgin Galactic, Darpa, Nasdaq, Aerospace, Blackrock, Kodiak, SPAC, Astra


Data automotive startup Otonomo to go public via SPAC

Otonomo, the cloud-based software startup that help companies capture and monetize connected car data, is headed to the public market. The Israeli-based startup said Monday it has agreed to merge with special purpose acquisition company Software Acquisition Group Inc. II with a valuation of $1.4 billion. Otonomo is joining a growing pool of automotive startups that have sidestepped the traditional IPO path in favor of merging with a SPAC, or blank check company.  Arrival, Canoo, Lordstown Moto...
Tags: TC, Transportation, Tech, Automotive, Connected Car, Nasdaq, SPAC, Otonomo, Ben Volkow, Dell Technologies Capital, Software Acquisition Group Inc, Lion Electric, Arrival Canoo Lordstown Motors Luminar, Senvest Management LLC, Hearst Ventures Current Otonomo


A look at the soaring valuations of Rivian and Cruise with transportation VC Reilly Brennan

Reilly Brennan loves cars. The native Michigander happily did grunt work for an automotive magazine as an undergrad at the University of Michigan before landing a gig as a trackside communications manager at General Motors, spending a few years as an editor and a general manager with an automotive publisher called NextScreen, then becoming a programming director for AOL’s automotive properties. His next role would be on the West Coast, as executive director of an automotive research program at S...
Tags: Amazon, TC, Stanford, China, Tech, General Motors, Tesla, Automotive, Aol, Gm, Kate, West Coast, Mitsubishi, Detroit, University Of Michigan, Ford Motor Company


EVgo to go public via SPAC in bid to power EV charging expansion

EVgo, the wholly owned subsidiary of LS Power that owns and operates public fast chargers for electric vehicles, has reached a deal to become a publicly traded company through a merger with special-purpose acquisition company Climate Change Crisis Real Impact I Acquisition Corporation. The combined company, which will be listed under the new ticker symbol “EVGO” will have a market valuation of $2.6 billion. LS Power and EVgo management, which today own 100% of the company will be rolling all of ...
Tags: Transportation, Lyft, Tech, Automotive, Electric Vehicles, Nissan, SPAC, Wawa, Zoi, Arrival, EVgo, LS Power, Albertsons Kroger, Lion Electric Company, Canoo, Pacific Investment Management Company LLC PIMCO


Foxconn, Geely team up to build electric, autonomous and shared vehicles for automakers

The electric, autonomous vehicles of the future might be manufactured by Apple’s main supplier Foxconn and Chinese automaker Zhejiang Geely Holding Group. The two companies have agreed to form a joint venture focused on contract manufacturing for automakers, with a specific focus on electrification, connectivity and autonomous driving technology as well as vehicles designed for sharing. Each party will hold an equal 50% stake in new joint venture. The board of directors will consist of five memb...
Tags: Apple, TC, Transportation, China, Tech, Tesla, Automotive, Electric Vehicles, Baidu, Young, Foxconn, Geely, SPAC, Liu, Foxconn Technology Group, Information and Communication Technology ICT


Lidar startup Aeva raises another $200M ahead of its debut as a public company

Aeva, the lidar company started by two former Apple engineers, has raised an additional $200 million in private investment from Hong Kong hedge fund Sylebra Capital ahead of its debut as a publicly traded company. The Mountain View, California-based startup announced in fall 2020 that it was merging with special purpose acquisition company InterPrivate Acquisition Corp., with a post-deal market valuation of $2.1 billion. The new investment from Sylebra, which is a current holder of InterPriva...
Tags: Apple, TC, Hong Kong, Tech, Automotive, Porsche, Lidar, SPAC, Mountain View California, Velodyne, LUMINAR, Aeva, Soroush Salehian, Mina Rezk, Salehian, InterPrivate Acquisition Corp


UK electric vehicle startup Arrival picks Charlotte for its North American headquarters

Arrival, the UK electric vehicle startup that plans to become a publicly traded company through a merger with  special purpose acquisition company CIIG Merger Corp., has picked Charlotte for its North American headquarters. The company said it will add 150 new employees to support the headquarters and invest about $3 million in office space in South End neighborhood of Charlotte. Arrival said it will be hiring for a variety of corporate positions, including human resources, marketing, finance...
Tags: TC, Transportation, UK, Tech, Automotive, Hyundai, Kia, Charlotte, SPAC, South End, Rock Hill South Carolina, Arrival, Mike Ableson, CIIG Merger Corp, Charlotte Arrival


EV bus and truck maker The Lion Electric to take SPAC route to public markets

Canadian electric truck and bus manufacturer The Lion Electric Company said Monday it plans to become a publicly traded company via a merger with special purpose acquisition company Northern Genesis Acquisition Corp. The combined company, which will be listed on the New York Stock Exchange, will have a valuation of $1.9 billion. The companies raised $200 million in private investment in public equity, or PIPE, and hold about $320 million in cash proceeds. The deal is the latest example of an ele...
Tags: Amazon, Fundings & Exits, TC, Tech, Automotive, Electric Vehicles, Wisconsin, New York Stock Exchange, Nyse, SPAC, Ian Robertson, Lion Electric Company, Canoo, Nikola Corp, Lion Electric, Northern Genesis Acquisition Corp


The Station: COVID’s effect on car ownership

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox. Hello and welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. For all my American readers, I hope you’re happy and satiated from the Thanksgiving holiday in this oddest of years. My hope for all Station readers, no matter where you reside, is a safe and hea...
Tags: MetroMile, Transportation, Elon Musk, California, China, Germany, India, Softbank, Toronto, San Francisco, Tech, Tesla, Canada, Automotive, Ford, Italy


The Station: Lime scoots towards profitability, a framework for AVs, and another electric vehicle SPAC

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every Saturday in your inbox. Hi folks, welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. Let’s get right to it. Companies tried to pack in the news before the Thanksgiving holiday, which means we have a lot to um, digest. Email me anytime at [email protected] to share...
Tags: Transportation, Uber, Europe, UK, Milan, Colorado, Indonesia, Washington, Israel, San Francisco, Tech, General Motors, Atlanta, Barcelona, Indiana, Intel


Arrival becomes latest electric vehicle startup to test the public markets with a SPAC

Arrival has gone from stealthy electric vehicle startup to prospective public company in a span of a year. The UK-based company, which operated in relative secrecy for several years until January when it announced a $110 million investment from Hyundai and Kia, said Wednesday it has agreed to merge with special purpose acquisition company CIIG Merger Corp. Arrival was already considered one of the UK’s most valuable startups before Wednesday’s SPAC merger announcement.  This deal, which when ...
Tags: TC, Transportation, UK, US, Tech, Automotive, Nasdaq, Hyundai, Kia, Faraday Future, Fisker, SPAC, Rock Hill South Carolina, Chargepoint, LUMINAR, Abelson


Fisker Goes Public With Spartan Energy SPAC

Despite having never manufactured a single production model, Fisker Inc. is a company reportedly worth billions. On Thursday, the prospective automaker indicated that it was ready to see how much more it could get via an announcement that it had officially completed its business combination Spartan Energy Acquisition Corp — a special purpose acquisition company — and […] The post Fisker Goes Public With Spartan Energy SPAC appeared first on The Truth About Cars.
Tags: Electric Vehicle, Ipo, Autos, EVs, Initial Public Offering, Fisker, SPAC, News Blog, Fisker Inc, Spartan Energy Acquisition Corp, Special Purpose Acquisition Company, Fisker Ocean, Fisker Goes Public With Spartan Energy SPAC


Daimler invests in lidar company Luminar in push to bring autonomous trucks to highways

Daimler’s trucks division has invested in lidar developer Luminar as part of a broader partnership to produce autonomous trucks capable of navigating highways without a human driver behind the wheel. The deal, which comes just days after Daimler and Waymo announced plans to work together to build an autonomous version of the Freightliner Cascadia truck, is the latest action by the German manufacturer to move away from robotaxis and shared mobility and instead focus on how automated vehicle...
Tags: Startups, Transportation, Tech, Automotive, Volvo, Lidar, Daimler, SPAC, Daimler Trucks, Russell, Gores, Freightliner Cascadia, TORC, LUMINAR, Austin Russell, Autonomous Trucks


Faraday Future plans to go public through a SPAC deal

Faraday Future, the electric vehicle startup with a messy and complicated past, is planning to go public through a special-purchase acquisition company (SPAC) deal. The company’s chief executive Carsten Breitfeld told Reuters that the company is working on a reverse merger with a SPAC and “will be able to announce something hopefully quite soon.” Breitfeld, formerly the co-founder of Chinese EV startup Byton, declined to give more information about who Faraday is talking to or when the deal will...
Tags: Fundings & Exits, Startups, TC, Asia, Tech, Automotive, Electric Vehicles, Mobility, Faraday, Faraday Future, Reuters, Leeco, SPAC, Automotive News, Jia Yueting, Jia


Nikola’s Steve Girsky eyes his next transportation investment

Steve Girksy, the former GM vice chairman, consultant and investor whose special purpose acquisition company (SPAC) merged with hydrogen electric startup Nikola this summer, is in talks to back self-driving trucks startup TuSimple, according to four people familiar with the deal. The capital would come from Girsky’s VectoIQ LLC, a consulting and investment company he runs with managing partner Mary Chan, and would be part of a consortium of investors, according to one unnamed source who reque...
Tags: Apple, TC, Transportation, Tech, Automotive, Mary Barra, Arizona, Gm, Morgan Stanley, SPAC, Tucson Arizona, Volkswagen AG, Nikola, Navistar, Mary Chan, Trevor Milton


Nikola chairman, VectoIQ CEO Steve Girsky eyes his next transportation investment

Steve Girsky, the former GM vice chairman, consultant and investor whose special purpose acquisition company (SPAC) merged with hydrogen electric startup Nikola this summer, is in talks to back self-driving trucks startup TuSimple, according to four people familiar with the deal. The capital would come from Girsky’s VectoIQ LLC, a consulting and investment company he runs with managing partner Mary Chan, and would be part of a consortium of investors, according to one unnamed source who re...
Tags: Apple, TC, Transportation, Tech, Automotive, Mary Barra, Arizona, Gm, Morgan Stanley, SPAC, Tucson Arizona, Volkswagen AG, Nikola, Navistar, Mary Chan, Trevor Milton


EV charging network ChargePoint to go public via SPAC

Several electric vehicle startups, including Canoo, Fisker Inc., Lordstown Motors and Nikola Corp., have gone public this year by merging with a special purpose acquisition company. Now, an electric vehicle charging company is joining the growing list of SPACs. ChargePoint, an electric vehicle charging network, has struck a deal to merge with special-purpose acquisition company Switchback Energy Acquisition Corporation, with a market valuation of $2.4 billion. ChargePoint will continue to be ...
Tags: TC, Transportation, Europe, Tech, Automotive, Electric Vehicles, North America, Baillie Gifford, SPAC, Chargepoint, Pasquale Romano, Nikola Corp, Canoo Fisker Inc Lordstown Motors, New York Stock Exchange The company, Switchback Energy Acquisition Corporation, ChargePoint Holdings Inc


The Station: Yandex spins out self-driving biz, Ike takes the SaaS road and a solid-state battery startup strikes SPAC

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox. Hello and welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. As summer comes to an end, deals have lagged a skosh ahead of what promises to be a busy fall. And while the news cycle continues, there has been a slight dip in intensity. Sounds like a good tim...
Tags: Apple, Google, MetroMile, Transportation, Uber, Singapore, Tech, Tesla, Service, Automotive, United States, Ford, Shanghai, Sun, Gm, Moscow


Volkswagen-backed QuantumScape to go public via SPAC to bring solid-state batteries to EVs

QuantumScape, the solid-state battery company backed by Volkswagen Group, has agreed to merge with a special purpose acquisition company Kensington Capital Acquisition Corp. as it aims to raise the capital it needs to commercialize solid-state batteries for electric vehicles. The merger will give QuantumScape a post-deal market valuation of $3.3 billion. QuantumScape said it was able to raise more than $700 million through the business combination, a figure that includes $500 million in priva...
Tags: Tech, Automotive, Vw, Volkswagen, Electric, Stanford University, Kleiner Perkins, Nyse, Volkswagen Group, SPAC, JB Straubel, Fidelity Management Research Company, Tesla CTO, Redwood Materials, Jagdeep Singh, Justin Mirro


The Station: Luminar takes the SPAC path and Voyage lifts the hood on its next-gen robotaxi

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every Saturday in your inbox. Hello and welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. I’ll skip the typical wind up and get right to things this week. We’ve got SPACs, venture deals and micromobility news along with a peek at one AV company’s newest vehicle. I wanted to mention o...
Tags: Transportation, Elon Musk, Florida, California, Bono, Senate, China, Berlin, New York City, Sacramento, San Francisco, Linkedin, Tech, Tesla, Austin, Automotive


Lidar startup Luminar to go public via $3.4 billion SPAC merger

Luminar, the lidar startup that burst onto the autonomous vehicle scene in April 2017 after operating for years in secrecy, is merging with special-purpose acquisition company Gores Metropoulos Inc., with a post-deal market valuation of $3.4 billion. Gores Metropoulos, which is listed on the Nasdaq exchange, is a special purpose acquisition company, or SPAC sponsored by an affiliate of The Gores Group, the global investment firm founded in the late 1980s by Alec Gores. The SPAC merger comes j...
Tags: TC, Samsung, Tech, Automotive, Silicon Valley, Detroit, Volvo, Lidar, Nick Woodman, SPAC, Russell, Thiel, The Gores Group, Alec Gores, LUMINAR, Austin Russell



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