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A $100 Billion Wave of EV IPOs to Hit Market by 2023, BofA Says

  • Growing investments to spur spinoffs, listings: Steinemann
  • Battery firms expected to move from debt financing to equity

A worldwide push toward electrification is causing a three-year wave of initial public offerings in the electric vehicle space that could raise about $100 billion until the end of 2023, according to Bank of America Corp.

Growing investments in the sector, spanning from batteries to charging cars, will see companies spin off units as well as go public, said Patrick Steinemann, co-head of Global Mobility Group Investment Banking at Bank of America.