Brand Store Opening Berlin

German EV maker e.GO to go public via Athena SPAC, report

Written by Cláudio Afonso | | LinkedIn | Twitter

The German EV maker Next.e.GO Mobile SE will become a public trading company via special purpose acquisition company (SPAC) with Athena (NYSE: $ACAQ) valuing the company at $913 million including debt, according to Bloomberg that cites with knowledge of the matter.

The EV maker was founded in 2015 in Germany having launched its first prototype one year later and is now preparing to launch its second compact electric vehicle in 2023. The proceeds from the deal with the special purpose acquisition company will be used “to fund operations and growth”, the people said.

Around 600 suppliers and partners, employees and media representatives had the opportunity to celebrate the launch of the new vehicle at the Aachen Micro Factory. Meanwhile, the company plans to begin the construction of its second factory in Southeast Europe.

Last May, e.GO opened a new brand and experience store in downtown Berlin showcasing the most recent electric model that features an urban range of 240 km.

“For us the brand store is much more than a place to display our cars or get a test drive; it is a place to connect with our customers and form a community to get involved and make a collective difference” explains Ali Vezvaei, Chairman of the Board of Next.e.GO Mobile SE.

The e.wave X model is expected to achieve an urban range of 240 km with a peak power of 80 KW and a price starting at 24.990 Euro, excluding subsidies. The charging capacity is broad from the regular house plug all the way up to 11 kWh.

Written by Cláudio Afonso | | LinkedIn | Twitter