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Photo: Fabrice Coffrini/AFP via Getty Images

Fisker, one of the many electric-vehicle startups with big plans to make cars but no actual production yet, could soon become a public company.

Why it matters: If Fisker has a successful public launch, it'll be yet another sign that the market hive-mind sees something in electric-vehicle startups that aren't yet reflected in their actual financials.

Driving the news: Reuters reported Thursday that Fisker is in talks to start trading via sale to a so-called blank check acquisition company — essentially an already public firm that Fisker would inhabit.

  • The reported discussions come after Nikola Motors, an electric and hydrogen fuel cell truck company, started trading via such a transaction last month and saw its shares quickly soar.
  • Nikola hasn't started building trucks. Fisker doesn't plan production of its SUV until 2022.
  • Tesla is a relative graybeard, but it has an astonishing market cap (around $260 billion, largest in the whole auto industry) even though it's not yet consistently profitable.

The bottom line: Electric vehicle startups remain a tiny share of the market, but the ability of companies to attract investor interest — indeed Fisker just raised another $50 million and Karma Automotive just raised another $100 million — underscores how the transition is underway, and investors want in early.

Go deeper

MicroAcquire's marketplace helps small businesses get acquired

Illustration: Aïda Amer/Axios

Flashy startup acquisitions with big price tags get all the media attention — as do their investors if they’re getting hefty returns from their venture capital gambles.

Yes, but: There’s a quiet world of tiny acquisitions for equally small businesses that rarely show up on the media radars, as entrepreneur and investor Andrew Gazdecki has witnessed with his marketplace MicroAcquire.

Updated 6 mins ago - World

Myanmar's deposed leader Aung San Suu Kyi sentenced to 4 years in prison

An anti-coup protest in Yangon, Myanmar.Photo: Hkun Lat/Getty Images

A Myanmar court sentenced the country's ousted leader, Aung San Suu Kyi, on Monday to four years in prison on charges of "inciting public unrest" and breaking COVID-19 protocols, per the New York Times.

Why it matters: It's the first of several verdicts that could result in the 76-year-old Nobel laureate being imprisoned for the rest of her life.

2 hours ago - World

Pope Francis denounces European governments' migrant response

Pope Francis adresses refugees at the Reception and Identification Centre (RIC) in Mytilene on the island of Lesbos on Sunday. Photo: Louisa Gouliamaki/Pool/AFP via Getty Images

Pope Francis criticized European countries' response to migrants and asylum seekers during his visit to a refugee camp on the Greek island of Lesbos Sunday.

Why it matters: The pope said "migration is a humanitarian crisis that concerns everyone," but little had changed in the global response to displaced peoples since his first visit to Lesbos five years ago, per a transcript of his remarks. "Human lives, real people, are at stake. ... let us stop this shipwreck of civilization!"