Fisker Inc, which is going public through a merger with a so-called blank check company, said on Thursday auto supplier Magna International Inc will supply the vehicle platform and build the electric carmaker's Ocean SUV. As part of the deal, Magna will receive warrants to purchase a stake of up to 6% in Fisker, giving the EV maker an overall valuation of about $3 billion, Fisker Chief Executive Henrik Fisker told Reuters. Fisker, which is merging with Spartan Energy Acquisition Corp <
Missed out on the Tesla rally but still want to surf the electric vehicle wave? A stream of EV-related startups backed by blank-check firms are lining up to go public so there's plenty of choice. Instead, investors will be relying on rosy production, sales and revenue forecasts for new cars, trucks and batteries, all set to be jostling for a slice of markets that will be far more crowded than when Tesla's cars first hit the road.
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