Group 1 - Hudson Acquisition I Corp. (HUDA) has signed a letter agreement with Aiways Automobile Europe GmbH for a business combination, valuing Aiways Europe at approximately US$400 million [1][2][3] - The de-SPAC transaction is expected to close around December 31, 2024, resulting in HUDA's shareholders becoming minority and non-controlling shareholders in the combined entity [2][3] - The merger aims to establish a strong presence in the European market, providing Aiways Europe with access to growth capital and alignment with European design concepts [3][4] Group 2 - Aiways Europe is recognized for its innovative, asset-light approach to electric vehicles tailored for European markets, with products certified by the Whole Vehicle Type-Approval System [5] - The company operates across 20 countries and regions using an omni-channel go-to-market strategy [5] - Hudson Acquisition I Corp. is a blank check company focused on mergers and business combinations across various industries and regions [6]
Hudson Acquisition I Corp. and Aiways Automobile Europe GmbH Enter into Letter Agreement for Business Combination