Super-car SPAC tests EV hype’s reset expectations
11/05/2022 03:01
(The author is a Reuters Breakingviews columnist. The opinions
expressed are her own.)
By Katrina Hamlin
HONG KONG, May 11 (Reuters Breakingviews) - A $1.7 bln bid
to resurrect a battered Chinese electric automaker comes as
other upstarts are under pressure. Buyer Liu Suying likes a
comeback story: he recently relisted Playboy. But CH-Auto’s
failure to flog sporty coupes means it’s unlikely to be the next
Tesla or Nio.
Full view will be published shortly.
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CONTEXT NEWS
- Chinese electric vehicle company CH-Auto Technology is to
go public by merging with U.S. blank-cheque firm Mountain Crest
Acquisition Corp. IV in a deal valued at nearly $1.7 billion,
including $460 million of net debt, the two companies said on
May 2.
- The transaction is expected to close in the fourth quarter
of 2022.
(Editing by Antony Currie and Thomas Shum)
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