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| Electric vehicle changing on street parking with graphical user interface, Future EV car concept |
According to the research data analyzed and published by ComprarAcciones.com, electric vehicles raised a cumulative $6.45 billion in January 2021. Companies in the industry raised the funds through SPAC mergers, acquisitions, IPOs and other capital raises.
Based on Bank of America’s forecast, the global transition
toward full electrification might cost over $2.5 trillion in the coming decade.
The bank projects that the EV SPAC boom that characterized 2020 is set to
continue through 2021.Global Electric Vehicle Market to Grow at 10.6% CAGR to
$236 Billion by 2027
EV charging network EVgo announced a reverse merger with
Climate Change Crises SPAC in January 2021. The deal will see EVgo receive $575
million in equity and will value the combined entity at $2.6 billion.
On the other hand, Electric bus maker Proterra and ArcLight
Clean Transition Corp’s also announced a merger during the month. Their
combined enterprise value will be $1.6 billion and raise $825 million.
Battery cells maker FREYR struck a deal with Alussa Energy
Acquisition Corp. The deal will result in a combined value of $1.4 billion and
$850 million in equity proceeds.
In view of the anticipated EV demand, the massive increase
in SPAC mergers comes as no surprise. In fact, the US president announced plans
to replace the entire federal fleet, 645,047 vehicles, with EVs.
According to Blastpoint, there was a 30% increase in US EV
sales in 2020. In 2021, the analytics firm projects a 71% rise.
The global electric vehicle market was worth $121.8 billion
in 2020. It will grow at a 10.6% compound annual growth rate (CAGR) to about
$236.3 billion by 2027.
The full story, statistics and information can be found
here:
https://compraracciones.com/blog/2021/03/30/full-global-transition-to-electric-vehicles-to-cost-investors-2-5-trillion-over-10-years/
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