Nikola Corp. went public this year in unorthodox fashion. Rather than make an initial public offering, the zero-emissions vehicle maker merged with VectoIQ, a company with no commercial operations, formed with the sole purpose of acquiring another company.
Stock activity has been frenzied since Nikola started trading in June. Now others have announced their intentions to emulate the company's path to market.
Girsky: We still love our cars.
Steve Girsky, former General Motors vice chairman and the brains behind VectoIQ, makes an appearance on today's Shift mobility podcast to discuss the merits of going public via a special purpose acquisition company vs. a traditional IPO and the promise of Nikola's hydrogen fuel cell trucking efforts. He also hints at his plans for an encore.
As for the traditional automotive industry that Girsky left behind, he's got a bullish mindset.
"You could go from one of the weakest auto production quarters around to, frankly, one of the strongest as they rebuild inventory," he said.
"Everyone thought the love affair with the car was going away, and I think this whole COVID thing may increase it again."
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