Chinese automaker Chijet to go public in US via $2.6b SPAC merger

Chinese automaker Chijet to go public in US via $2.6b SPAC merger

Chinese automaker Chijet Motor Co has agreed to go public in the United States through a merger with a blank-check vehicle Deep Medicine Acquisition Corp in a deal valued at $2.55 billion, the companies said on Wednesday.

Chijet said it would use the proceeds of $127.8 million from the deal to increase production capacity, develop its electric vehicles and expand in Southeast Asia.

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