British electric vehicle company Arrival, whose shares fell more than 2% in extended trading, had said in April it would merge with Kensington Capital Acquisition Corp V to bolster its depleting cash pile. The special purpose acquisition company (SPAC) did not immediately respond to a request for comment. Meanwhile, Nikola Corp will liquidate the assets of Romeo Power, an EV battery maker it acquired less than a year ago, to energize the business.
Every time Lucid Group Inc or Rivian Automotive Inc sells an electric car, they are losing hundreds of thousands of dollars due to staggering raw material and production costs, their latest earnings statements showed.
LOS ANGELES, Jan. 14, 2022 (GLOBE NEWSWIRE) The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of.