EV Makers Turn to SPACs for Easier Access to Stock Markets
Since it started selling its all-electric roadster more than a decade ago, Tesla has dominated the electric vehicle (EV) market. The firm has seen exponential growth over the years, eventually gaining a market valuation of more than $300 billion. But while investors have been salivating for Tesla stock for a while now, other EV makers have not been so lucky. In fact, players in the young EV industry have had a relatively hard time securing capital. Take Steve Burns, for instance. Although his company, Lordstown Motors, has already designed an electric truck, acquired a plant and machinery from General Motors,…
