A spokeswoman for Moelis declined to comment.
Other companies trying to make electric aircraft include Joby Aviation, which announced a $ 6.6 billion deal in February with a SPAC led by LinkedIn co-founder Reid Hoffman, and German startup Lilium, which Goed public last month through its merger with a SPAC led by a former General Motors CEO, Barry Engle.
These deals are only a small part of SPAC’s activity this year as investors, celebrities and athletes have participated in Wall Street’s new favorite toy. According to SPAC Research, 299 SPACs have raised $ 97 billion so far this year – more than in all of 2020.
However, regulators and some investors say more scrutiny is needed. The Securities and Exchange Commission issued two notices last month warning companies to partner with SPACs to ensure they are ready for any legal and regulatory requirements that a public company brings with it. Many investors known as short sellers who specialize in ensuring that company stock prices will fall have targeted SPACs like Atlas Crest, which is among the top 20 least-trimmed SPACs.
The electric aircraft market is still in its infancy, but it is promising. The prospect of “jetsons” -like aircraft has moved closer to reality in recent years thanks to advances in battery and aircraft design. A high-stakes race to build the first functional electric aircraft is underway, and some airlines are betting that such vehicles can help them achieve their goals of eliminating or offsetting their greenhouse gas emissions.
United’s chief executive Scott Kirby said the Archer planes are unlikely to be used for commercial flights but are ideal for short trips to and from the airport.
“Not only are they more environmentally friendly, they’re also a lot quieter than a helicopter,” Kirby said Tuesday during a Council on Foreign Relations event. “And because they have 12 rotors, I believe they will ultimately be safer.”
However, widespread use of electric air taxis is likely years away. Such aircraft may never become more than a luxury used by the very wealthy as companies and governments may find far cheaper ways to transport people with zero emissions.
Comments are closed.