Smart car technology company Ecarx Holdings is exploring going public in Hong Kong once it has completed the planned US listing via a merger with a blank-check company, reports The Straits Times, citing unnamed sources with knowledge of the matter.
The firm, backed by Chinese billionaire Li Shufu and his Zhejiang Geely Holding Group, has not decided whether it will raise funds via the Hong Kong listing as considerations are at an early stage, the sources said. A listing outside the Unites States could help Ecarx hedge any potential delisting risks, one of the sources said.
In May, Ecarx agreed to combine with Cova Acquisition in a deal that would value the merged entity at about $3.8 billion. Read more.
