Lotus plans SPAC merger / ChargePoint plans to install battery storage in EV charging stations

Hey Insiders – Thanks for joining us for the latest transportation news. Here's what is happening with EV SPACs, infrastructure, and the airline industry: Nicolas 1. Lotus Technology, an EV company owned by Geely Holding Group and Etika Automotive, is planning to go public via a merger with SPAC L Catterton Asia Acquisition Group (LCAA). The combined company would be valued at $5.4B.  Q: A number of EV companies that went public via SPAC are not performing as expected, including Arrival, which let go of 50% of its workforce earlier this week to extend its runway. On the other hand, companies may be seeking to emulate Porsche's Frankfurt IPO, which catapulted it to become Europe's most valuable automaker. How do you think Lotus will perform? Share your thoughts. 2. ChargePoint announced its plans to work with Stem to install battery storage for EV charging stations serving highways. The companies plan to evaluate the project's eligibility for funds from the National Electric Vehicle Infrastructure Program, which was passed under the Bipartisan Infrastructure Law. Q: The Bipartisan Infrastructure Law earmarked $7.5B for highway and community charging projects. Do you think it will help reduce range anxiety among prospective EV owners? Share your thoughts. 3. Sens. Richard Blumenthal, D-N.Y., and Ed Markey, D-Mass., are seeking to introduce bills addressing faster refunds for flight cancelations and reducing fees for seats and bag checking. The Airline Passengers’ Bill of Rights calls for $1,350 in minimum compensation for passengers bumped from oversold flights.  Q: Trade association Airlines for America expressed opposition to the bill, stating it is instituting government-controlled pricing and dictating private sector contracts that would decrease competition and increase pricing. Share your thoughts. 4. United Airlines announced a new joint venture for sustainable aviation fuel (SAF) research and development, Blue Blade Energy, in collaboration with Tallgrass and Green Plains. The JV includes a combined investment by the airline of $50M and an agreement to source up to 2.7 billion gallons of SAF. 5. CATL, the world's largest EV battery manufacturer, is planning to invest ~$3.5B into a complex for recycling raw materials for new batteries. CATL currently holds a 65% stake in battery recycling company Brunp. 6. U.S.-based airline startup GlobalX secured a $5M loan from existing investors. GlobalX ordered multiple Airbus A330s and an A321 aircraft to add to its fleet. 7. Tesla opened its Supercharger stations to other vehicle brands in Australia. The company is focusing on opening to other EVs in locations that already use the CCS connector and protocol. Nicolas is a Sr. Analyst at Inside, covering transportation and startup trends. He is an avid map maker and data nerd. Nicolas has worked in the shared-scooter space, as well as advised e-bike and moped startups.  Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. If your company would like to sponsor an Inside.com newsletter, please take a look at our sponsor page here.

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