Hudson Acquisition (HUDA) and Aiways Automobile Europe agreed to merge and set up a new Nasdaq-listed company called EuroEV Holdings.
The deal values Munich-based Aiways Automobile Europe at $410 million, the companies said Friday in a statement.
The boards of both companies approved the combination with the merger subject to approval of shareholders of the companies and regulators.
Aiways Automobile Europe Chief Executive Officer Alexander Klose-Mozer is expected to lead EuroEV, according to the statement.
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