11:16 AM EST, 11/22/2024 (MT Newswires) -- Hudson Acquisition (HUDA) and Aiways Automobile Europe agreed to merge and set up a new Nasdaq-listed company called EuroEV Holdings.

The deal values Munich-based Aiways Automobile Europe at $410 million, the companies said Friday in a statement.

The boards of both companies approved the combination with the merger subject to approval of shareholders of the companies and regulators.

Aiways Automobile Europe Chief Executive Officer Alexander Klose-Mozer is expected to lead EuroEV, according to the statement.

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