Business Today

Fisker CEO talks upside of Spartan Vitality merger (NYSE:SPAQ)

Fisker founder/CEO Henrik Fisker was the featured visitor on a Barron’s Dwell Occasion right this moment.

Henrik Fisker says the corporate went by means of the SPAC course of with Spartan Vitality Acquisition (SPAQ -3.2%) as a result of it’s trying to take the Apple-Foxconn strategy with outsourced manufactured. The SPAC course of raises funds straight away, making it simpler to ink a cope with a producing associate.

Fisker says his firm would not wish to compete with Tesla, however is trying to take the lead in particular areas resembling software program.

Fisker thinks the corporate will hit the EV market in 2022, with sustainability and affordability key promoting factors. Fisker automobiles will be capable of be bought or leased. The corporate already his banks occupied with financing the lease program.

Spartan Vitality Acquisition Corp. is a particular goal acquisition firm sponsored by an affiliate of Apollo International Administration (NYSE:APO).

Seeking Alpha Marketplace Author Matt Bohlsen has a deep dive into the SPAQ-Fisker deal.

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