The Latest SPAC News and Rumors: February 23, 2022


The Latest SPAC News and Rumors: February 23, 2022


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News:  Lucid recalls EV sedans due to safety defect, Phunware sued by angel investors, and Gogoro manufactures one-millionth battery

Lucid Is Recalling About 200 High-End EV Sedans Due to a Safety Defect

Lucid Group Inc.(NASDAQ:LCID), a maker of luxury electric vehicles, is recalling about 200 cars due to a safety defect that could increase the likelihood of collisions.

A piece on the Lucid Air’s front strut dampers may have been installed incorrectly due to an error by a supplier, the company said in an email to customers that was seen by Bloomberg. “This condition may result in a sudden loss of ground clearance, vehicle vibration and front brake line damage, increasing the risk of a crash,” Newark, California-based Lucid told customers.


Phunware Sued by Angel Investors Challenging SPAC Stock Lockup

A group of Phunware Inc. (NASDAQ:PHUN) investors sued the business and its leaders in Delaware, claiming they were wrongly subjected to a stock lockup clause after its reverse merger with a blank-check company, even though the provision only covers insiders and shareholders with stakes larger than 1%.

The lawsuit, filed Feb. 18 by more than dozen individual stockholders and investment firms, targets the mobile marketing and cryptocurrency services company, along with current and former members of its board and senior management.


Gogoro Manufactures One-Millionth Battery, Demonstrates Success of Open Battery Swapping Ecosystem 

Gogoro® Inc., a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced it has manufactured its one-millionth battery. Launched in 2015, Gogoro Battery Swapping has become the de facto battery swapping standard for two-wheel vehicles in Taiwan, powering 95% of all electric two-wheelers. Gogoro’s open battery swapping ecosystem in Taiwan currently supports seven different vehicle brands and accounted for more than 25% of all two-wheelers sold in Taipei in December 2021.

Gogoro entered into a definitive agreement to combine Poema Global (NASDAQ:PPGH) last year on September 16.