Electric Truck Maker Xos in Deal Talks with NextGen Acquisition Corp. (NGAC) - Reuters

February 8, 2021 2:38 PM EST
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(Updated - February 8, 2021 2:41 PM EST)

U.S. electric vehicle maker Xos Trucks is in talks to go public through a merger with NextGen Acquisition Corp. (NASDAQ: NGAC) which could value it around $2 billion, according to Reuters, citing people familiar with the matter.

NextGen is in talks with investors about raising financing for the deal in the form of a PIPE. If successful an agreement could be announced as early as this month, the report said.

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