/PRNewswire/ - Lion Electric (Lion), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, today announced that it has secured an order.
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Two electric bus companies that are merging with SPACs landed new deals with school districts this week.
Proterra Lands Large Order: Montgomery County in Maryland placed one of the largest electric bus orders ever seen in the U.S. market.
The county, which is near Washington, D.C., covers 200 schools. The school district will switch its entire public school bus to electric school buses in a transition away from diesel-powered school buses, according to Electrek.
The plan to replace 1,400 school buses is estimated to take 12 years.
The buses will be manufactured by Thomas Built, a
Daimler AG (Pink: DDAIF) unit.
Churchill Capital IV (NYSE:
NGAC Stock Gets Big Book of Business
The deal comes as the new administration in Washington is going all-in on EVs. Investors are betting that electric vehicles will benefit from President Joe Biden’s proposed $1.7 billion green energy infrastructure plan, as well as his “Build Back Better” economic policy that focuses on clean energy and manufacturing, providing a boost to U.S. electric vehicle stocks. Biden recently issued an executive order calling for an all-electric federal vehicle fleet.
Unlike other EV-SPAC deals, investors in NGAC stock will be hitching their trailers to a company that is actually manufacturing equipment and has a growing back book of business. Xos vehicles have been deployed in field operations since 2019, with a customer base that includes
Electric-vehicle maker Taiga to go public through SPAC theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
The meteoric rise of Tesla(NASDAQ:TSLA) over the past year fuelled a wave of investor interest in EV stocks.
The EV sector is full of newcomers hoping to deliver the same success Tesla achieved. Some will grow to become very successful companies; others will fail and disappoint investors.
Betting on start-ups can result in huge gains if you get the timing right and choose the eventual winners. Unfortunately, nobody knows which stocks will be the next Tesla. In fact, Tesla CEO Elon Musk even said last December his company was about a month from filing for bankruptcy during a tough period between 2017 and 2019. Today, Tesla has a market capitalization of roughly US$775 billion.