Two electric car companies with a long common background, Fisker Inc. and Karma Automotive, both revealed this week that they have raised millions of dollars. Fisker took in $50 million in fresh funding from "hedge fund king" Louis Bacon and Karma Automotive raised $100 million from "private investors" without notification.

The capital comes at a time when interest in funding capital-hungry electric vehicle companies appears to be revived, thanks in large part to Tesla's skyrocketing stock price and the early success of the recent public listing of hydrogen trucking company Nikola.

In reality, Fisker Inc. is considering following in the footsteps of Nikola and becoming a publicly traded entity through a reverse merger, a person familiar with the deal tells The Verge. The startup is in negotiations with Apollo Global Management to combine with the publicly traded "white check" business of the private equity group, known as Spartan Energy Acquisition Corp. Spartan was established in 2018 as a way for Apollo to invest in the energy industry and will only have to acquire a company until August 14th or it will be dissolved, with investors and shareholders getting their money back. (The people running Spartan are attempting to extend the date until February 2021, according to a recent filing.) Reuters first announced news of the talks between Fisker Inc. and Apollo Global Management.

"Special acquisition firms" such as Spartan have become increasingly popular in the last year or so, especially after a number of high-profile firms ran into trouble as they embarked on the traditional route to public trade. The share price of both dropped immediately after Uber and Lyft went public last year, and stocks in both companies are still trading below the original price. Meanwhile, WeWork has been completely imploded as a result of scrutinizing the so-called "roadshow" sequence of meetings that banks set up with investors before taking on public business. Fisker Inc. mergs with Spartan. Can sidestep some of those issues and enter the capital markets more easily to collect some of the huge cash needed to produce a vehicle.

Additionally, it has $50 million in fresh capital coming in from the investment firm in Louis Bacon, Moore Strategic Ventures, LLC. That's more than twice the sum of money that Fisker Inc. has previously received from the construction giant 's venture arm Caterpillar and the family behind oil exploration business Schlumberger.