Apollo-backed Spartan Energy Acquisition completed the merger with Fisker in a $2.9bn deal.

Apollo-backed Spartan Energy Acquisition, a special purpose acquisition company, completed the merger with Fisker, an American electric vehicle automaker, in a $2.9bn deal. "Spartan and Apollo have a strong commitment to sustainability and ESG, and we are excited to work with Fisker to help achieve its vision of attainable electric transportation. Henrik has an unparalleled and world-renowned design track record and is supported by an expert management team with storied careers in the automotive industry. The right team, combined with deep financial resources provided by this transaction, further position the company to succeed in a rapidly growing industry," Geoffrey Strong, Spartan Chairman and CEO.