An increase in the use of SPACs for raising investment for electric vehicle start-ups could damage the long-term prospects of the industry, Mate Rimac, founder of electric hypercar maker Rimac, said in an article published by Speedlux.
“I hope that these SPACs will be successful. A lot of them won’t. I hope it won’t hurt the industry too much,” he reportedly said. Rimac said his company prioritizes profitability over growth.
Tesla founder Elon Musk has raised similar concerns about using SPACS to capitalize the EV industry. Read more.
Rimac Founder Says SPAC Hype Could Damage EV Industry
