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Photo: Smith Collection/Gado/Getty Images

EVgo, a big player in electric vehicle charging, said this morning that it's going public via a reverse merger with a special purpose acquisition company (SPAC).

Driving the news: The Los Angeles-based company, which has charging stations in 34 states, expects the deal will bring in $575 million that will "be used to fully fund and accelerate EVgo’s growth strategy and network buildout."

Why it matters: It's the latest of a suite of companies in the electric vehicle and charging space to go public as investors pour money into the sector. ChargePoint, another major charging company, announced a SPAC deal in September.

Quick take: The incoming Biden administration wants to spur a major nationwide EV charging buildout, which could increase investor interest in the company and other charging players.

How it works: EVgo is merging with a recently formed SPAC called the Climate Change Crisis Real Impact I Acquisition Corp., whose co-founders include former NRG Energy CEO David Crane and former senior GE exec Beth Comstock.

Go deeper

Ben Geman, author of Generate
Jan 26, 2021 - Politics & Policy

Schumer suggests Biden could use emergency powers for climate policy

Photo: Drew Angerer/Getty Images

Senate Majority Leader Chuck Schumer wants President Biden to explore use of emergency executive powers to fight climate change, he told MSNBC's Rachel Maddow last night.

Driving the news: Schumer said it "might be a good idea for President Biden to call a climate emergency," and noted, "Then he can do many, many things under the emergency powers of the president ... that he could do without legislation."

Updated 3 hours ago - Politics & Policy

U.S. sounds alarm on Ukraine

Conscripts line up at a Russian railway station yesterday before departing for Army service. Photo: Sergei Malgavko/TASS via Getty Images

The Biden administration is "deeply concerned" by new intelligence — detailed for Axios and other outlets — showing Russia stepping up preparations to invade Ukraine as soon as early 2022.

Why it matters: Most of this was known from public sources and satellite imagery, but the administration is sending a stronger signal by releasing specific details from the intelligence community.

CNN fires Chris Cuomo

Photo: Kevin Mazur/Getty Images for CNN

CNN said Saturday evening it has fired one of its star anchors, Chris Cuomo, following new revelations from a legal review made by the company into Cuomo's involvement in the management of his brother's sexual harassment scandal.

Why it matters: Saturday's firing speaks to how much pressure CNN was under by employees and critics to address Cuomo's behavior.