Chinese fuel cell maker eyeing SPAC deal for $1B US listing

A Chinese provider of hydrogen used in fuel cell vehicles is considering a NASDAQ debut early next year via a SPAC merger that would land it a $1 billion valuation after listing.
If the deal with its undisclosed suitor goes through, Shenzhen State Fuel Cell Corporation (SFCC) will become the latest in a long line of electric vehicle companies to choose the short route to an IPO.
The deal comes at a time when companies that took the SPAC route are facing increasing scrutiny in the U.S., as many EV companies that went public in the last two years haven’t fared well, leading to the U.S. Sec

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