In addition to Nikola, two more startups - lidar maker Velodyne and electric truck developer Hyliion - have gone public through reverse mergers with SPACs, while at least eight others are waiting in the wings.
Fisker Inc
Founded: 2016
Headquarters: Torrance, CA
Commercial partner: Magna International
SPAC partner: Spartan Energy Acquisition Corp
Product: Electric vehicles
Production start: Late 2022
2019 revenue: $0
Lordstown Motors
Founded: 2019
Headquarters: Lordstown, OH
Commercial partners: General Motors, Samsung SDI
SPAC partner: DiamondPeak Holdings Corp
Product: Electric trucks
Production start: Late 2021
2019 revenue: $0
Canoo
Founded: 2018
Headquarters: Torrance, CA
Commercial partner: Hyundai
SPAC partner: Hennessy Capital Acquisition Corp
Product: Electric vehicles
Production start: Mid 2022
2019 revenue: $0
ChargePoint
Founded: 2007
Headquarters: Campbell, CA
Commercial partners: BMW, Nissan, Volkswagen, General Motors
SPAC partner: Switchback Energy Acquisition Corp
Service: Electric vehicle charging
Production start: In production
2019 revenue: $200 million
QuantumScape
Founded: 2010
Headquarters: San Jose, CA
Commercial partner: Volkswagen
SPAC partner: Kensington Capital Acquisition Corp
Product: Solid-state battery
Production start: 2024-2025
2019 revenue: $6.5 million
Romeo Power
Founded: 2016
Headquarters: Vernon, CA
Commercial partner: BorgWarner
SPAC partner: RMG Acquisition Corp
Product: Electric vehicle batteries
Production start: In production
2020 revenue: $11 million (fiscal year estimate)
Luminar
Founded: 2012
Headquarters: Orlando, FL
Commercial partners: Volvo Car, Toyota, TuSimple, Nvidia
SPAC partner: Gores Metropoulos Inc
Product: Lidar sensors
Production start: Late 2022
2019 revenue: $15 million
XL Fleet
Founded: 2009
Headquarters: Boston, MA
Commercial partners: Isuzu, Enterprise
SPAC partner: Pivotal Investment Corp
Product: Electric truck conversions
Production start: In production
2019 revenue: $7 million
Founded: 1983
Headquarters: San Jose, CA
Commercial partner: Ford Motor
SPAC partner: Graf Industrial Corp
Product: Lidar sensors
Production start: In production
2019 revenue: $307 million
Hyliion
Founded: 2015
Headquarters: Austin, TX
Commercial partners: Toshiba, Dana, Faurecia
SPAC partner: Tortoise Acquisition Corp
Product: Electric trucks
Production start: 2021-2022
2019 revenue: $1 million
Source: Companies
(Reporting by Paul Lienert in Detroit; Editing by David Clarke)
