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Investment in electric vehicles and their components and infrastructure continue to grow in spite of the pandemic and economic downturn, not to mention the infancy of the market.According to MarketWatch.com, there is “sky high” investor interest in clean energy and electric vehicle companies using a new form of initial public offering (IPO) in which investors merge with a company and take it public immediately. One such company is called Fisker, and it plans to use the proceeds of its IPO schedule for the 4th quarter to develop an SUV EV for the ’23 model year. The car is called the Ocean (we like it already) and will be “premium yet affordable” with a starting price of $37,500 — coming in much under the Model Y, Tesla’s compact SUV selling for $49,990.
Last week, “Rivian closed a $2.5 billion funding round ahead of the production launch next year of its SUV, pickup, and delivery vehicles for Amazon.”
“Karma Automotive, which is in the early stages of producing a plug-in hybrid sports car, has raised another $100 million.”
“Nikola Motors, which has yet to build anything but plans electric and hydrogen-powered pickups and big rigs, saw its stock price soar after going public in June via a transaction similar to Fisker’s.”
Axios quotes an industry analyst from Wood Mackenzie who told E&E News that “The [electric vehicle] uprising is real, but the scale of investment into what I would view as fledgling companies is staggering.”
Why This Matters: Methane leaks are dangerous — they have led to reports of tap water catching fire, toxic groundwater, and fatal explosions, all of which have been motivators for the federal government to track and seal these wells.
By Julia Fine, ODP Contributing Writer Last month, we reported on the plan of American companies to foist an increasing amount of plastic goods and garbage on African countries. These plastics represent the “thin reed upon which the [oil] industry is placing all its hopes.” But now, as David Roberts reported for Vox, a new […]
In the United States, electric utilities are an outsized influence on our political process. Utilities can be a force for good but as UC Santa Barbara professor Leah Stokes explained to ODP this past spring, “There is an abundance of shadow, dark money, and nonprofits groups whose missions’ are to stifle clean energy progress and […]
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