EV start-up Fisker to go public through merger with Apollo-backed firm at combined value of $2.9 billion

, which went public last month through a reverse merger with VectoIQ, another publicly-traded special purpose acquisition company.

Fisker is led by well-known auto designer Henrik Fisker, who has been promising to bring a new all-electric vehicle to market for several years. He first promised a luxury sedan to rival theModel S before switching gears to the Ocean, a mainstream crossover. The sedan, according to the company's website, remains in its plans but there's no set launch date.

Fisker is credited with designing the BMW Z8 and Aston Martin DB9. He previously launched a company with the same name that brought a plug-in hybrid vehicles to market called the Karma. The company went bankrupt in 2013. Wanxiang Group, a Chinese firm, purchased the company's assets but Fisker retained the company's name.

Cowen, Credit Suisse and Goldman Sachs are serving as co-placement agents on the private investment in public equity offering.

Maybe the beginning of the end of the gas combustion engine. Time to be a 21st century Nation.

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