The incoming administration's focus on environmental issues and reducing the domestic carbon footprint will likely have a dramatic impact, says one analyst.
The electric vehicle maker has been under scrutiny since a short-seller accused it of misleading investors about its technology.
“Jacobson is an important hire for GM as it enters into new ventures and continues to restructure its business operations toward all-electric vehicles."
The deal will enable GM to deploy its Ultium electric battery system and Hydrotec fuel cells in pickups and big rigs.
The automaker is aiming to trim at least 1,400 positions through voluntary buyouts as it continues to shift to electric and autonomous vehicles.
With the offering, the Chinese electric vehicle company expects its cash reserves to exceed $2.9 billion.
The Chinese automaker says its extended-range technology "will help accelerate the adoption of electric vehicles in China."
The company will merge with special purpose acquisition firm Spartan Energy Acquisition to go public.
The EV truck manufacturer’s stock skyrocketed 103% on Monday.
The companies see the $48 billion deal as a move to "capture the opportunities and manage effectively the challenges of the new era in mobility.”
The carmaker plans to invest proceeds into transforming auto production as it readies to launch electric vehicles.
The combined company is poised to become a leader in the race for developing electric and autonomous vehicles.
