Here’s a rule of thumb for investors looking for the next Tesla: Wait for the futuristic vehicles pictured in company presentations to hit the road.
Electric-vehicle startups are racing onto the stock market through special-purpose acquisition companies or SPACs. The latest is Faraday Future, which after years of financial troubles has finally bagged a deal to get its first luxury EV to launch next year. Shares in Property Solutions Acquisition Corp. , the blank-check company acquiring Faraday, have risen 42% since the announcement Thursday.and SPACs that have announced similar mergers over the past half year or so.
Not all of the startups will compete head on with Tesla like Faraday and Fisker, another Californian company with a luxury EV in the works. Others want to develop battery EVs for
Musker better worry about securing enough raw materials (Silver, Nickel, Colbalt, Lithium....) and less about non-US $$$/cryptos!
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.