Automotive

EV Makers Add Stocks

Selling new stocks is a friendly way to raise funds. Not bake sale friendly, but more friendly than some other options.
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EV Makers Add Stocks

The price of doing business is going up. Without the market share of a legacy OEMbacking them up, EV startups need money to increase production amid higher prices to grab a piece of the market healthy enough to sustain themselves.  

💰🔋Nikola plans to sell $400M in new stock at market prices. The electric heavy truck producer will ramp up its Tre electric semi truck production and acquire battery-pack supplier Romeo Power with the resulting funds. 

💸📈Lucid's ambitions are a bit bigger. The company will issue up to $8B in new stocks over 3 years. The shelf registration allows the company to issue stock as needed, which Lucid says will not be right away.

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