A year after funneling money into companies creating electric vehicles, charging infrastructure, energy storage devices and related technologies, investors have slowed amid economic and geopolitical turbulence.
Global M&A activity in 2022 involving companies developing such tools to decarbonize the power and transportation sectors collapsed to just $7.76 billion through July, marking a significant deceleration from $81.88 billion in all of 2021 and $31.45 billion in 2020, according to S&P Global Market Intelligence data.
That includes special purpose acquisition company transactions, which have cooled significantly, prompting several major underwriters to retreat.
Through July, the largest announced EV SPAC deal in 2022 is Chijet Motor Co. Inc.’s proposal to acquire Deep Medicine Acquisition Corp. in a reverse merger valued at $2.26 billion. Chijet expects to yield…