Electric vehicle charging station provider EVgo is going public, joining a wave of companies in the electric vehicle industry hoping to ride on Tesla's soaring stock growth over the last year.

The Los Angeles-based startup, which operates a nationwide fast-charging network for electric vehicles, announced Friday it's going public through a merger with a special purpose acquisition company that will generate about $575 million in net proceeds.

The deal with the SPAC, Climate Change Crisis Real Impact I Acquisition Corp., values EVgo at $2.6 billion. Shares shot up more than 66% on the news.

Read more Show less

The electric car company Canoo made a weak Wall Street debut on Tuesday after completing a reverse merger with Hennessy Capital Acquisition.

The Torrance-based startup, trading on the Nasdaq under the ticker symbol GOEV, closed the session down 3.1%, falling from $22.75 a share.

Read more Show less

Los Angeles electric vehicle company Canoo Holdings Ltd. will go public on Tuesday after shareholders approved a deal with Hennessy Capital Acquisition.

Under its agreement with the special purpose acquisition company, the EV startup, with $2.4 billion valuation, will begin trading on the Nasdaq Global Select Market under the ticker symbols "GOEV," Canoo said in a statement.

Read more Show less

Trending