Investments
Pages 34–42 (9 pages)
Text on page 38
Gross Proceeds
Polestar
Key Trends SPAC activity fell sharply in 2022. E-mobility companies with exits via SPACs raised just $3B, considerably less than the $12B raised by 32 e-mobility companies with SPAC exits in 2021.
Tritium EVE Mobility Gogoro LiveWire
SPAC activity could decrease again in 2023 due to their poor performance on the stock market. By the end of 2022, nearly every e-mobility company with a SPAC exit was trading at a loss relative to its IPO price. One reason is that many of the startups with SPAC exits had little to no revenue.
SES Dragonfly Energy* Allego Amprius
Industry: Investments Source: Bloomberg News, press releases. Note: (*) Excludes loans.
LG Energy Solutions and Leapmotor had the most notable e-mobility IPOs. LG Energy Solution is one of the world’s largest battery manufacturers and Leapmotor is an emerging Chinese EV manufacturer. Atlis Motors, SebitChem (battery recycling) and Phoenix Motor also had smaller IPOs.
Volta Foundation
Extracted from the PDF; charts and images may read imperfectly.
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