Hyperdrive
Hunt for the Next Tesla Fuels Wave of Electric-Vehicle Deals
- Proterra plans public offering through Arclight SPAC
- Lucid Motors in talks to go public via merger with Klein SPAC
Source: Proterra
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Wall Street’s obsession with electric vehicles is touching off a new round of public listings and helping clean-tech companies to forge partnerships with powerful allies.
Proterra Inc., which makes electric buses and battery systems, on Tuesday said it will go public through special purpose acquisition company ArcLight Clean Transition Corp., the latest in a wave of deals between automakers and SPACs. It comes as Lucid Motors Inc. has been in talks to go public via one of Michael Klein’s blank-check companies, according to people familiar with the matter.