Rivian and Lucid could make IPO via Spartan Energy Acquisition (SPAQ) to speed up fundraising in millions

To manufacture well-developed EV models new brands need a lot of funds. The fastest and less risky way to raise funds is going public by offering shares openly. However, before that, some financial assistance from experienced companies is much needed. For instance, Spartan Energy Acquisition (NYSE: SPAQ) could be the best firm to deal with.

Rivian and Lucid have no other choice except for dealing with SPAC (special purpose acquisition company) to debut with IPO in one of the American stock exchanges. To make their current models lively they need millions of US dollars. For several years, they will not make any earnings like Tesla in the beginning.

Xpeng, Kandi, and Nio already had backup funds from Chinese tech companies like Alibaba, Tencent, or Huawei. Therefore, they didn’t search for any SPAC to ease going for IPO.

Alex Krakowsky

Editor in Chief. Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life