Good news appears to cheer EV lovers today; very vital vehicle parts manufacturer REE Automotive is going public soon via a merger with SPAC which is not well-known yet, 10X Capital Venture Acquisition (NASDAQ: VCVC). The shares of 10X Capital are now rising 42% in the premarket. Hopefully, VCVC will jump over $20 this week.
All EV makers are competing to receive as many financial aids as possible to back their intriguing electric vehicles (heavy-duty trucks, pickup trucks, commercial vans, personal cars). A very significant part of that process is building reliable factories to manufacture as many EVs as it is capable of.
Several EV makers will surely order more REE’s products to maintain good quality and efficiency. Therefore, applying for IPO becomes very essential for the company via the aid of 1ox Capital Venture Acquisition. As we all see electric car saves a lot of money on parts and maintenance while gas or petrol backed vehicles create cosmically high expenses like emission taxes, fuel, motor oil, radiator liquid and many more.