In this article, we discuss the 5 best EV SPACs to buy now. If you want to read our detailed analysis of these SPACs, go directly to the 10 Best EV SPACs to Buy Now.
5. Kensington Capital Acquisition Corp. II (NYSE: KCAC)
Kensington Capital Acquisition Corp. II (NYSE: KCAC) is a special purpose acquisition company that operates from Westbury. It is ranked fifth on our list of 10 best EV SPACs to buy now. The company went public in February 2021 and managed to raise more than $230 million from the offering. It targets mergers with firms working in the automotive and related sectors in the United States. The CEO of the firm is Justin Mirro.
Kensington Capital Acquisition Corp. II (NYSE: KCAC) is reportedly in talks for a merger with Wall Box Chargers, a firm that markets smart electric vehicle charging stations and is valued at $1.5 billion. It is expected to debut on the stock market late this year or early next year.
4. Tortoise Acquisition Corp. II (NYSE: SNPR)
Tortoise Acquisition Corp. II (NYSE: SNPR) is a special purpose acquisition company that is headquartered in Kansas. It is ranked fourth on our list of 10 best EV SPACs to buy now. The firm went public in September 2020, raising close to $345 million from the initial offering. It now has a market capitalization of $427 million. It targets mergers with firms working in the sustainability sector. The CEO of the company is Vincent Cubbage.
Tortoise Acquisition Corp. II (NYSE: SNPR) has signed a definitive agreement for a merger with Volta Industries, a San Francisco-based firm that makes and sells electric vehicle charging stations. The company is valued at over $2 billion and is expected to debut on the stock market soon.
3. Churchill Capital Corp IV (NYSE: CCIV)
Churchill Capital Corp IV (NYSE: CCIV) is a special purpose acquisition company that is based in New York. It is placed third on our list of 10 best EV SPACs to buy now. The firm went public in July 2020, raising close to $2 billion from the initial offering. It now has a market capitalization of over $6 billion. It targets mergers with firms working in the automotive sector. The CEO of the company is Michael Klein.
Churchill has signed a definitive agreement for a merger with Lucid Motors, a company that makes and sells electric vehicles from California. The EV startup is valued at over $11 billion and one of the most lucrative firms in the EV space. Citigroup is the left lead on the special purpose company.
2. TPG Pace Beneficial Finance Corp. (NYSE: TPGY)
TPG Pace Beneficial Finance Corp. (NYSE: TPGY) is a special purpose acquisition company headquartered in Texas. It is placed second on our list of 10 best EV SPACs to buy now. The company concentrates on initial public offerings related to the economic, social, and governance (ESG) sector. It went public in October 2020 and raised more than $350 million from the offering. The CEO of the company is Michael MacDougall.
TPG Pace Beneficial Finance Corp. (NYSE: TPGY) has signed a definitive agreement for a merger with EVBox Group, a company that markets flexible and scalable electric vehicle charging solutions. The startup is valued at over $1.4 billion.
1. NextGen Acquisition Corporation (NASDAQ: NGAC)
NextGen Acquisition Corporation (NASDAQ: NGAC) is a special purpose acquisition company headquartered in Florida. It is ranked first on our list of 10 best EV SPACs to buy now. The company concentrates on initial public offerings related to the industrial and healthcare sectors. It went public in October 2020 and raised more than $375 million from the offering. The CEO of the company is Patrick Ford.
NextGen Acquisition Corporation (NASDAQ: NGAC) has a market capitalization of over $465 million. It has signed a definitive agreement for a merger with Xos, the electric vehicle maker that focuses on electric trucks and is based in California. Xos is valued at close to $2 billion and is planning to go public soon.
You can also take a peek at 10 Best SPACs to Buy According to David Einhorn’s Greenlight Capital and 10 Best SPACs to Buy According to SoftBank’s Masayoshi Son.
