Hudson Acquisition I (NASDAQ:HUDA) Announces Business Combination Agreement with Aiways Europe

On November 22, 2024, Hudson Acquisition I Corp. (NASDAQ:HUDA) made a significant announcement regarding the signing of a definitive Business Combination Agreement with Aiways Europe, a company specializing in the development and sales of battery electrical vehicles (BEV) in the European market. The agreement involves EUROEV Holdings Limited, a newly formed British Virgin Islands holding company, acquiring the outstanding shares of both Hudson Acquisition I (HUDA) and Aiways Europe. This acquisition will lead to these entities merging under EUROEV, which will subsequently list on the Nasdaq Stock Market, marking a pre-combination equity valuation of $410 million for Aiways Europe, with adjustments possible.

Based in Munich, Germany, Aiways Europe has established itself as a key player in the European BEV market, with a robust distribution network and significant sales figures, having sold around 6,000 electrical vehicles since 2020. Aiways Europe’s strategic advantages lie in its targeted product development suited for European standards, strong distribution capabilities, efficient sourcing from its partner manufacturer in China, and quick vehicle service updates facilitated by Over-The-Air (OTA) capabilities. Additionally, Aiways Europe has secured plans to localize vehicle production in Europe starting in 2025 and has signed agreements to explore supply contracts for light vehicles and vans with partners scheduled from 2025 onwards.

Dr. Alexander Klose-Mozer, CEO of Aiways Europe, expressed enthusiasm about the market opportunities associated with the proposed Business Combination, highlighting their expanded access to capital markets through a planned Nasdaq listing and their strategic steps towards global aspirations. The planned partnership with HUDA and subsequent listing in the U.S. represent key milestones aligning with Aiways Europe’s future growth strategies.

The boards of both Aiways Europe and HUDA have endorsed this proposed Business Combination, subject to various conditions including approval by shareholders, regulatory clearances, and listing approvals by The Nasdaq Stock Market to list EuroEV’s securities. The transaction reflects a forward-looking initiative aimed at capitalizing on the growing demand for electric vehicles globally, with a focus on the European market.

This release contains forward-looking statements which are subject to various risks and uncertainties including but not limited to the successful completion of the Business Combination and the realization of anticipated benefits. The actual performance and results may differ based on numerous factors beyond the control of Aiways Europe and HUDA. Interested parties are encouraged to refer to the latest SEC filings and documents for detailed information.

For further information on this Business Combination Agreement and related updates, investors and shareholders are advised to stay tuned for relevant filings and updates on the SEC’s website or contact Hudson Acquisition I Corp. directly.

Please note, this release is for informational purposes only and does not constitute an offer to sell or solicitation of an offer to buy any securities related to the aforementioned agreement.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Hudson Acquisition I’s 8K filing here.

Hudson Acquisition I Company Profile

Hudson Acquisition I Corp. does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.