Chinese EV maker Aiways will go public via a merger with U.S. Special Purpose Acquisition Company Hudson Acquisition Corp (NASDAQ:HUDA) in a deal that values the EV maker at about $400 million. The SPAC announcement comes days after Chinese auto company Geely‘s Zeekr (NYSE:ZK) brand started trading on the New York Stock Exchange.
What Happened: Aiways was founded in 2017 by Chinese entrepreneurs Samuel Fu and Gary Gu. The company’s financial situation collapsed last year, forcing it to halt production at its Shangrao plant with an annual capacity of 300,000 vehicles. The company also has R&D and design centers in Shanghai (China), a battery factory in Changshu ...