Factbox: Auto startups backed by blank-check companies

Hall Chadwick Acquisition

22/10/2020 12:09

Oct 22 (Reuters) - A number of auto-related startups have
signed billion-dollar-plus deals to go public with special
purpose acquisition companies, known as SPACs.  urn:newsml:reuters.com:*:nL1N2H71DK
    In addition to Nikola  NKLA.O , two more startups - lidar
maker Velodyne  VLDR.O  and electric truck developer Hyliion
 HYLN.N  - have gone public through reverse mergers with SPACs,
while at least eight others are waiting in the wings.

Fisker Inc
Founded: 2016
Headquarters: Torrance, CA
Commercial partner: Magna International  MG.TO 
SPAC partner: Spartan Energy Acquisition Corp  SPAQ.N 
Product: Electric vehicles
Production start: Late 2022
2019 revenue: $0

Lordstown Motors
Founded: 2019
Headquarters: Lordstown, OH
Commercial partners: General Motors  GM.N , Samsung SDI
 005930.KS 
SPAC partner: DiamondPeak Holdings Corp  DPHCU.O 
Product: Electric trucks
Production start: Late 2021
2019 revenue: $0

Canoo
Founded: 2018
Headquarters: Torrance, CA
Commercial partner: Hyundai  005380.KS  
SPAC partner: Hennessy Capital Acquisition Corp  HCACU.O 
Product: Electric vehicles
Production start: Mid 2022
2019 revenue: $0

ChargePoint
Founded: 2007
Headquarters: Campbell, CA
Commercial partners: BMW  BMWG.DE , Nissan  7201.T , Volkswagen
 VOWG_p.DE , General Motors
SPAC partner: Switchback Energy Acquisition Corp  SBE.N 
Service: Electric vehicle charging
Production start: In production
2019 revenue: $200 million

QuantumScape
Founded: 2010
Headquarters: San Jose, CA
Commercial partner: Volkswagen
SPAC partner: Kensington Capital Acquisition Corp  KCAC.N 
Product: Solid-state battery
Production start: 2024-2025
2019 revenue: $6.5 million

Romeo Power
Founded: 2016
Headquarters: Vernon, CA
Commercial partner: BorgWarner  BWA.N  
SPAC partner: RMG Acquisition Corp  RMG.N 
Product: Electric vehicle batteries
Production start: In production
2020 revenue: $11 million (fiscal year estimate)

Luminar
Founded: 2012
Headquarters: Orlando, FL
Commercial partners: Volvo Car, Toyota  7203.T , TuSimple,
Nvidia  NVDA.O  
SPAC partner: Gores Metropoulos Inc  GMHIU.O 
Product: Lidar sensors
Production start: Late 2022
2019 revenue: $15 million

XL Fleet
Founded: 2009
Headquarters: Boston, MA
Commercial partners: Isuzu  7202.T , Enterprise
SPAC partner: Pivotal Investment Corp  PIC.N 
Product: Electric truck conversions
Production start: In production
2019 revenue: $7 million

Velodyne  VLDR.O 
Founded: 1983
Headquarters: San Jose, CA
Commercial partner: Ford Motor  F.N  
SPAC partner: Graf Industrial Corp
Product: Lidar sensors
Production start: In production
2019 revenue: $307 million

Hyliion  HYLN.N 
Founded: 2015
Headquarters: Austin, TX
Commercial partners: Toshiba  6502.T , Dana  DAN.N , Faurecia
 EPED.PA 
SPAC partner: Tortoise Acquisition Corp 
Product: Electric trucks
Production start: 2021-2022
2019 revenue: $1 million

Source: Companies

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INSIGHT-Auto startups chasing Tesla race past red flags to go
public     urn:newsml:reuters.com:*:nL1N2H71DK
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 (Reporting by Paul Lienert in Detroit; Editing by David Clarke)
 ((Paul.Lienert@thomsonreuters.com; mobile +1 313-670-2452;))