Electric vehicle SPACs remain the favorite way to scale up startups in the EV sector. VW looks for an Electrify America investor. Solid-state batteries are powering buses, and we check how that’s going. And how long will it take for new EVs to break even on carbon footprint? This and more, here at Green Car Reports.
Volkswagen is reportedly looking for a co-investor in Electrify America—a big investor willing to put more than $1 billion into the company. With that, would EA be able to scale up and match the experience of the Tesla Supercharger network?
SPACs—that’s special purpose acquisition companies—have been a favorite of startups in the electric vehicle sector. Bloomberg New Energy Finance this week summed up that 13 of these reverse mergers have been completed, raising $7.5 billion, while another 14 of them that are pending might potentially raise $11.8 billion—with Lucid the largest and Rivian looming as a potential SPAC.
How long will a new EV take for its lighter carbon running footprint to offset EVs’ heavier footprint from manufacturing? In most cases, it’s down to a year or two.
Solid-state batteries are a common goal on automakers’ technology roadmaps, and most companies see them as one of the keys to the mass-adoption of EVs later this decade. But solid-state cells are already being installed in Mercedes-Benz eCitaro buses, and we checked in with the company on how that’s going.