Jim Cramer - Mad Money Hennessy Capital Acquisition HCAC-Q BUY Dec 04, 2020

The e-car stocks are too speculative now, too high. Canoo will go public via a reverse merger with HCAC. After this deal, HCAC will take the Canoo name and trade under that name. Some things set Canoo apart from the hyped ecar stocks. For one, they have received less buzz. HCAC was trading at $10, then announced the Canoo deal in September, so the stock popped to $13. It's bounced between $10-13 a few times since then. What really sets them apart is that they take a plu-and-play "skateboard" approach to designing EVs--vehicles without a roof. The advantage is that they can produce a model in 18-24 months, instead of 4-5 years, and much cheaper. Their vehicles should hit the market by 2022. Instead of a lease, these will roll out in a subscription model. Canoo already partners with Hyundai to develop an all-electric platform based on the skateboard. Canoo plans to outsource its manufacturing