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Former GM Executive to Start a Blank-Check Company QELLFormer GM Executive to Start a Blank-Check Company Qell Acqusition corp Engle has co-founded a SPAC called Qell Acquisition Corp., using his own cash and a healthy slug of money from PIMCO Investment Management, the giant investment firm with almost $2 trillion in assets. And why not? While GM has beaten market returns by a few points this year, most auto stocks have been flat or down in 2020. Meanwhile, Tesla Inc. has tripled in value this year and investors have poured cash into at least 15 EV-related startups like Nikola, Fisker Inc. and Lordstown Motors Corp. All in, blank-check firms have raised $70 billion this year. Engle is looking to acquire a company that will profit off the rapid changes happening in transportation no matter which company wins the EV or even self-driving game. He is looking at companies that can supply charging network hardware or services, or software and data collection for electric or self-driving vehicles. He sees opportunities in autonomous technology, telematics and infotainment. Power sports and motorcycles are just being electrified, which also present early opportunities. There is less competition, so plug-in bikes that serve Asia could be a strong play, he said. There are also emerging companies that will build small electric aircraft for short-haul flights or to ferry people in congested cities. Engle said Qell will consider companies with no revenue, but he prefers “real companies that have a product and revenue or are soon to be bringing in revenue.” “If the money that gets raised is applied to emerging growth companies that have a revenue stream and a line of sight toward significant growth, they have a better chance,” Spitzer said. “If SPACs have no track record of putting money into an early-stage company, I’m skeptical. Engle has been in that world and knows it.” www.bloomberg.com
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by AlenCiken
Lightning eMotors to List on New York Stock Exchange Through GIKUrban Commercial Zero-Emission Vehicle Company Lightning eMotors to List on New York Stock Exchange Through Merger with GigCapital3, Inc. Urban Commercial Zero-Emission Vehicle Company Lightning eMotors to List on New York Stock Exchange Through Merger with GigCapital3, Inc. Production expected to reach 20,000 medium duty commercial electric vehicles by 2025 High revenue visibility with 100% of projected 2021 revenue of $63 million and 25% of 2022 projected revenue of $354 million under firm purchase orders as of today, and strong line of sight to $2 billion in projected 2025 revenue, including $1 billion from existing fleet customers Transaction supported by $125 million of gross proceeds from the issuance of equity and convertible financings in a Private Investment in Public Equity (PIPE) transaction, including a commitment from BP Technology Ventures and other leading institutional investors Pro forma implied equity value of the merger is approximately $823 million, at $10.00 per share. The transaction will be funded by (i) the issuance of approximately $539 million in new common stock of GigCapital3 to current holders of Lightning eMotors securities (ii) cash from the GigCapital3 trust account of approximately $202 million, assuming no redemptions by GigCapital3’s stockholders. the proposed business combination is expected to be completed in the first half of 2021. finance.yahoo.com
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by AlenCiken
Electric Last Mile to List on Nasdaq Through Merger With FIIIEV Company Electric Last Mile to List on Nasdaq Through Merger With Forum Merger III Corporation Pro forma implied equity value of the combined company is approximately $1.4 billion at closing, at a $10.00 per share price and assuming no redemptions by Forum shareholders. ELMS expects to launch its Urban Delivery van as the first electric Class 1 commercial vehicle in the U.S. market in the third quarter of 2021 Transaction supported by approximately $155 million in fully committed PIPE and related financing anchored by institutional investors including BNP Paribas Asset Management Energy Transition Fund and Jennison Associates LLC Approximately $379 million of gross proceeds expected from the transaction to be used to fund operations and growth Anticipated proceeds from the proposed business combination expected to sufficiently fund initial product launches ELMS has over 30,000 pre-orders from customers including leading brands and some of the largest fleet managers and dealers in the country. The boards of directors of both Forum and ELMS have unanimously approved the proposed transaction, which is expected to be completed in the first quarter of 2021. finance.yahoo.com
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by AlenCiken
2
EV Company Last Mile to List on Nasdaq Through Merger With FIIIEV Company Electric Last Mile to List on Nasdaq Through Merger With Forum Merger III Corporation Pro forma implied equity value of the combined company is approximately $1.4 billion ELMS expects to launch its Urban Delivery van as the first electric Class 1 commercial vehicle in the U.S. market in the third quarter of 2021 Transaction supported by approximately $155 million in fully committed PIPE and related financing anchored by institutional investors including BNP Paribas Asset Management Energy Transition Fund and Jennison Associates LLC Approximately $379 million of gross proceeds expected from the transaction to be used to fund operations and growth Upon closing of the transaction, which is expected to occur in the first quarter of 2021, the combined company will be named Electric Last Mile Solutions, Inc. and will continue to be listed on the Nasdaq Capital Market under the new ticker symbol, “ELMS To date, ELMS has over 30,000 pre-orders from customers including leading brands and some of the largest fleet managers and dealers in the country. www.businesswire.com
FLong
by AlenCiken
TESLA hit my $600 Target. What's next? $1000 eyed early 2021.Back in October when TSLA was coming out of its 1D Triangle, I posted the following idea with $600 as its Target: Last week the Target got hit and yesterday we saw another big green candle (+7.13%). What does this mean for Tesla? Will it be extending the rally and for how long? Personally I believe that as long as it is above the middle (dashed line) of the Channel Up that was created after the COVID collapse (left chart), it will be using the 1D MA50 (blue trend-line) as Support and rebound on every contact. Since March every strong rise was within a +75% to +89% range. Assuming the same pattern is followed, we are looking at a price range within $700-755, before the next consolidation or pull-back to the 1D MA50. The RSI is also near its 6 month Resistance. Once this consolidation is over, the Channel Up shows a Higher High target at $1000 at least. Needless to say, I am very bullish on the long-term on Tesla. The right chart is on the 1W time-frame, and the RSI shows a unique formation. Every time (since at least 2015) the 1W RSI breaks above a Lower Highs trend-line, a massive rise follows. This means that if the Lower Highs don't break now, the next pull-back might be the decisive to do so and start a new aggressive multi-month bullish leg. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> TradingView --------------------------------------------------------------------------------------------------------
NASDAQ:TSLALong
by TradingShot
5
Cramer Says Arrival Has The 'Best Claim To Be The Son Of TeslaCramer Says This EV Startup Has The 'Best Claim To Be The Son Of Tesla,' Gives Blessing To Buy SPAC Stock The “Mad Money” host said on his CNBC show that if the stock “comes down below $17.50, you can buy it hand over fist, because this one has the best claim to be the son of Tesla — or daughter, to break the tyranny of that awful cliche.” The automaker, backed by United Parcel Service, Inc (NYSE: UPS), Hyundai Motor Company (OTC: HYMTF), and BlackRock Inc (NYSE: BLK) is “revolutionizing the entire auto industry, and they own a ton of intellectual property,” according to Cramer. “They make all their own components, they’ll be cost competitive with gasoline and diesel, and that’s why Arrival got that $5 billion valuation from the get-go,” explained Cramer. Cramer said Arrival’s microfactory concept could have an impact beyond auto industry and it could “revolutionize manufacturing.” “If they can make an electric van or truck with a lower cost of ownership than the fossil fuel-powered alternatives, that’s a whole new ballgame,” the former hedge-fund manager theorized. Why It Matters: The merger between CIIG Merger and Arrival was reported last month. The former is backed by Peter Cuneo, the former CEO of Remington and Marvel. BlackRock has pumped in 8 million into Arrival, which would allow the London-based company to open a manufacturing facility in the United States. stock UPS has placed an order of 10,000 electric vans with Arrival, worth approximately $500 million.
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by AlenCiken
QS began trading on the NYSE on friday-49% up!QuantumScape (QS), a battery developer for electric vehicle use, began trading on the New York Stock Exchange on friday following a SPAC merger. QuantumScape is aiming to commercialize its solid-state lithium metal batteries which it claims provide a greater range, a much faster charge time and are safer and more cost effective than conventional technologies used today. The company is backed by Microsoft (MSFT) co-founder Bill Gates and Volkswagen (VOW.DE). Former Tesla (TSLA) Chief Technology Officer JB Straubel is currently a QuantumScope board member. We’re really at the cusp for the beginning of this massive transformation” into electrification of vehicles. “Whoever wins the battery battle, so to speak, is going to be looking at, in our opinion, a multi hundred billion dollar company,” “We think that solid state technology is the technology best poised to win this battle over the long run. finance.yahoo.com
NYSE:QSLong
by AlenCiken
Significantly Increased Sales to the Rising Chinese EV MarketChina Automotive Systems Significantly Increased Sales to the Rising Chinese EV Market in 2020 - 120,000 steering units shipped for electric vehicle ("EV") models so far in 2020; may reach over 140,000 units by year end 2020 - targets sales of over 200,000 steering units for Chinese EV vehicles in 2021 - - Sales of Chinese EVs approximately doubled year-over-year to 144,000 units in the month of October 2020. With this rapid growth of EVs occurring in China, the outlook is for booming growth as the Chinese government has set an EV car target of 25% of all new cars by 2025. - Other new products are under development to meet the future needs of the surging Chinese EV market." - Our portfolio of EPS products has the potential to become a major growth channel over the next few years as we further capture market share in the burgeoning market for Chinese electric vehicles. finance.yahoo.com
NASDAQ:CAASLong
by AlenCiken
XPeng Announces Vehicle Delivery Results for October 2020XPeng Announces Vehicle Delivery Results for October 2020: • XPeng delivered 3,040 vehicles in October 2020, a 229% increase year-over-year • XPeng delivered 17,117 vehicles year-to-date 2020, a 64% increase year-over-year • XPeng delivered a total of 3,040 Smart EVs in October 2020, consisting of 2,104 P7s, the Company’s smart sports sedan, and 936 G3s, its smart compact SUV. The Company’s October deliveries represented a 229% increase year-over-year. • As of October 31, 2020, year-to-date deliveries of the Company’s Smart EVs reached 17,117 units, representing a 64% increase year-over-year. • Despite China’s Golden Week holiday in early October which affected deliveries, the Company sees strong business momentum supported by fast production ramp up and robust demand for its Smart EVs. • It achieved a new milestone this month, completing the production of 10,000 P7s on October 20, 2020, just 160 days after starting mass production in late May. finance.yahoo.com
NYSE:XPEVLong
by AlenCiken
XPEV vs BMWI wrote this article because there are a lot of people asking me if it is too late to buy Xpev. I am not a financial adviser, so you do the finance comparing Xpev with BMW and write me if it is a good buying opportunity or a speculative bubble. I was also the guy who told you about the chance of buying Xpev at 20usd: The indicators are still bullish, by the way. If you are interested to test some amazing BUY and SELL INDICATORS, which give the signal at the beginning of the candle, not at the end of it, just leave me a message.
XETR:BMWShort
by TopgOptions
5
Electric Vehicle Company Canoo 421M Market CapCanoo has announced a merger agreement with Hennessy Capital Acquisition Corp. IV (HCAC), a special purpose acquisition company (SPAC), that would result in Canoo becoming a publicly listed company. Canoo is a Los Angeles-based company that has developed breakthrough electric vehicles, reinventing the automotive landscape with bold innovations in design, pioneering technologies, and a unique business model that defies traditional ownership to put customers first. Distinguished by its experienced team – numbering over 300 employees from leading technology and automotive companies. (prnewswire.com) The indicators are looking bullish on every timeframe, the market cap is very low and the company looks promising. If you are interested to test some amazing BUY and SELL INDICATORS, which give the signal at the beginning of the candle, not at the end of it, just leave me a message.
HLong
by TopgOptions
12