Why Shares of These Electric-Vehicle Start-Ups Got Crushed in March

Here’s how these three companies’ stocks fared in March, according to data from S&P Global Market Intelligence.

Decarbonization Plus Acquisition (NASDAQ: DCRB), a special-purpose acquisition company (SPAC) that is in the process of merging with electric-truck start-up Hyzon Motors, fell 10.9% in March.

Hyliion Holdings (NYSE: HYLN), a maker of electric and hybrid powertrains for heavy trucks that went public via a SPAC deal in 2020, fell 29.4% in March.

Property Solutions Acquisition (NASDAQ: PSAC), a SPAC that is in the process of merging with luxury EV start-up Faraday Future, fell 14.4% in March…

Hyliion went public after completing a merger with a SPAC last year. The Texas company, led by Thomas Healy, an engineer trained at Carnegie Mellon University, designs hybrid and fully electric powertrains for heavy trucks that are then built and distributed by established truck-industry partners, including Tier 1 auto supplier Dana (NYSE: DAN).