Hudson Acquisition I announced it has signed a letter agreement with Aiways Automobile Europe for a business combination. The shareholders of Aiways Europe will receive newly issued shares of HUDA common stock at an equity valuation of approximately $400 million.
If approved, the de-SPAC is expected to close by Dec. 31. HUDA’s shareholders will become non-controlling shareholders in the combined entity.
Aiways Europe is an asset-light automotive company that offers electric vehicles specifically customized for the demand of the European markets. Aiways Europe is recognized in Europe and Israel with two European product definition models, both certified by the Whole Vehicle Type- Approval System (WVTA). Aiways sells products across 20 countries and regions via its omni-channel go-to-market strategy. Read more.
