EV startups Fisker and Lordstown Motors are now publicly listed companies, though neither has delivered a product yet.

They followed in the footsteps of fellow EV startup Nikola by entering a so-called “reverse merger” with a special purpose acquisition company whose shares are already publicly traded. And more EV-related deals are in the pipeline, including from Canoo and Mullen.

Lordstown merged with DiamondPeak Holdings Corp. and started trading on the Nasdaq on Monday under ticker symbol “RIDE.” After initially jumping 20% to reach a high of $21.75, the shares sold off during this week’s market rout and closed Thursday at $14.74.

Fisker Ocean

Fisker has merged with Spartan Energy Acquisition Corp. and starts trading on the New York Stock Exchange on Friday under the ticker symbol “FSR.”

By going public, Fisker and Lordstown are expected to receive $1 billion and $675 million, respectively. Both companies will use the bulk of the funds to get their first products to market.

While Fisker doesn’t expect to have its first product, a Tesla Model Y rival called the Ocean, in production until late 2022, Lordstown expects its first product, the Endurance, a full-size pickup truck with in-wheel motors, to be in production by late 2021.

Lordstown Endurance

The Endurance will be built at a former General Motors plant in Lordstown, Ohio, and could be followed by SUVs and a mid-size pickup truck. Lordstown said it has over 40,000 pre-orders, which would equate to about $2 billion in revenue.

As for the Ocean, Fisker plans to outsource production to Magna Steyr in Austria. Magna Steyr will also supply Fisker with a platform for the Ocean and possibly other models the company has on the drawing board.

Fisker said it already has 9,000 reservations for the Ocean, and unlike Lordstown which plans to launch in the North American market, Fisker plans to launch in North America and Europe. One of Fisker’s first European customers is a Danish ride-hailing company called Viggo which this week announced it will purchase 300 Oceans for its fleet.

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Genesis on Wednesday released the first photos of a new crossover SUV called the GV70 which is coming to showrooms next year as the latest entry in the competitive small premium SUV segment.

Genesis’ first SUV was the mid-size GV80 which is just reaching showrooms after coronavirus delays quashed the original summer release. The third SUV is expected to be a compact offering, possibly with battery-electric power only.

The GV70 is yet another handsome design from Genesis, and one that’s more dynamic than the big and burly GV80. This is emphasized by the more dramatic slope of the roof toward the rear, compared to the flatter roof of the GV80.

2022 Genesis GV70

Otherwise, all the styling cues that have come to represent the Genesis brand are there, like the large crest-shaped grille and quad-light arrangement front and rear.

Like other models from Genesis, the GV70 is based on a rear-wheel-drive platform, in this case related to the one in the G70 sedan which has just received major updates.

It’s likely the standard powertrain will be a 2.5-liter turbocharged inline-4 with around 300 horsepower, and the available powertrain a 3.5-liter twin-turbo V-6 with around 375 hp.

2022 Genesis GV70

More details on the GV70 will be announced closer to the market launch but Genesis has confirmed that there will be both a regular model and GV70 Sport. Genesis hasn’t said if the Sport model will bring any performance upgrades, but the automaker has mentioned it will come with a more aggressive front fascia, unique 21-inch wheels, dark chrome exterior accents, and exclusive color and trim options inside including carbon-fiber.

The GV70 isn’t the only new Genesis coming up shortly. As mentioned above, the G70 sedan has just been updated and is set to spawn a wagon body style for European markets. There’s also a dedicated EV in the works that could be badged a GV60, as well as a battery-electric version of the G80 sedan.

Unfortunately, plans for a large coupe inspired by 2018’s Essentia concept appear to be off the radar as Genesis focuses on higher volume models first.

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Mini is preparing for a major shakeup of its lineup, a move that will see the automaker move beyond the subcompact segment and offering electrified powertrains in every vehicle line.

Central to this will be an increased focus on the growing crossover SUV segment. Mini said Wednesday that it will add two more SUVs to its lineup to join the existing Countryman.

One will be a dedicated EV similar in size to the Countryman, while the other will offer conventional powertrains as well as a battery-electric option, and will be larger than the Countryman. This larger SUV will sit in the compact segment and could come close to matching the BMW X3 in size.

A revival of the Paceman name for the dedicated EV and Traveller for the compact SUV has been rumored.

All Mini is willing to say is that in any segment in which it competes, its vehicles will always have the smallest footprint.

2020 Mini Cooper SE Hardtop

The new SUVs, plus the Cooper SE based on the Hardtop 2-Door, which incidentally is about to be updated, will be Mini’s only vehicles offering battery-electric power for the time being. Other vehicle lines will receive the option of a plug-in hybrid powertrain.

Mini was rumored to be working on a minicar smaller than the Cooper SE for its next EV, though that model looks to be off the table for now.

The smaller of the two new SUVs will be the first vehicle developed and built by Spotlight Automotive, the new Chinese joint venture between Mini and Great Wall Motors. Spotlight was established in 2019 to develop electric cars for Mini and Great Wall, for sale in both China and export markets. It will start production of the smaller SUV in 2023.

The larger SUV is being designed primarily for North America, where the Countryman is deemed too small. It isn’t expected until about 2024. Though it’s yet to be confirmed, this SUV may end up sharing the rear-wheel-drive-based CLAR platform found in the BMW X3, meaning it could potentially be built at plants in China and the United States where the X3 is currently in production.

Concurrent with the development of the two new SUVs is development of a fourth generation of the modern Mini lineup. The first of the new generation will be the signature Hardtop, which is slated to arrive around 2023. Before it arrives however, the current generation will be given one more update.

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