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One of the most well-known electric vehicle stocks in the world is Tesla Inc (NASDAQ: TSLA). The company could face competition from several EV startups that have gone public via SPAC.
A SPAC is making its debut with two former Tesla executives targeting the EV sector.
The SPAC Offering: Ascendant Mobility Acquisition Corp I is planning to sell 35 million units for $350 million. Each unit will include a common share and one-third of a warrant.
The company has not announced a ticker for units or common shares yet.
The Management Team: Ascendant Mobility Acquisition Corp I will be led by two former Tesla executives, Peter Bardenfleth-Hansen and Jochen Rudat, who will be co-CEOs. The duo worked for Tesla from 2009 to 2019 serving as some of the longest-tenured employees before they left. Both reported directly to Tesla CEO Elon Musk.
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