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Chinese auto tech startup ECARX to go public in $3.8b blank-check deal

May 27, 2022
Source: dealstreetasia.com dealstreetasia.com
News Snapshot:
ECARX Holdings, a Chinese auto tech startup backed by Geely Holding Group’s chairman, on Thursday said it would go public through a merger with a blank-check firm in a deal that values it at $3.82 billion. Chinese listings in the United States have been frozen for months, as Beijing and U.S. regulators have been locked in a dispute over the latter’s demand for complete access to the books of U.S-listed Chinese companies. The deal with COVA Acquisition Corp includes a $45 million investment from mobility tech company Geely, lidar sensor maker Luminar Technologies Inc and automotive company Lotus Technology. Luminar...
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Tags: acquisition | auto | Automotive | Beijing | bid | books | California | car | CEO | chairman | China | Chinese | chips | Europe | executive | Geely | initial public offering | investment | ipo | IT | listing | listings | SPAC | technology | United States

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