EV battery maker SES Holdings looks to go public via $3.6b SPAC deal
Electric vehicle battery maker SES Holdings said on Tuesday that it would go public through a merger with a blank-cheque company in a deal that values the combined entity at $3.6 billion.
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Foxconn said the investment will make it the second-largest shareholder in Gigasolar.
Existing investors like Temasek, SAIC Group, and Tianqi Lithium also joined the round.
Farasis plans to allocate the proceeds to spruce up battery capacity and meet working capital needs.
Global automakers are moving to secure batteries in anticipation of a rise in EV sales.
