|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||33.49 - 33.69|
|52-week range||9.50 - 45.00|
|Beta (5Y monthly)||0.81|
|PE ratio (TTM)||8.79|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||27 Jun 2019|
|1y target est||N/A|
As Tesla Inc <TSLA.O> accelerates the shift to electric cars, Hyundai Motor <005803.KS>'s loyal suppliers have increasingly turned to "outsiders" for parts - but now the South Korean carmaker's own supply company, Mobis, is plunging into the game. Hyundai Mobis <012330.KS> is in talks with two global automakers to supply electrified parts, its executive told Reuters, as it hopes to boost volume and lower prices. The move is a direct response to companies such as Volkswagen <VOWG_p.DE> and Tesla muscling in with suppliers with whom Hyundai had worked for decades.
Canoo Holdings Ltd, a U.S. electric vehicle startup already working with South Korea's Hyundai Motor, will go public later this year at a value of $2.4 billion and aims to start delivering vehicles by the second quarter of 2022. It has joined forces with a so-called special purpose acquisition company, or SPAC, and the combined company will be called Canoo Inc following the closing of the deal with Hennessy Capital Acquisition Corp IV <HCACU.O> in the fourth quarter. A SPAC is a shell company that raises money through an IPO to buy an operating entity, typically within two years.
Canoo, the Los Angeles-based electric vehicle startup, has struck a deal to merge with special-purpose acquisition company Hennessy Capital Acquisition Corp., with a market valuation of $2.4 billion. The announcement Tuesday marks the fourth time this summer that an electric vehicle company has skipped the traditional IPO path and instead taken the company public through a merger agreement with a SPAC, also known as blank check companies. Canoo said it was able to raise $300 million in private investment in public equity, or PIPE, including investments from funds and accounts managed by BlackRock.