Mergers & Acquisitions ·
Highway Holdings Limited signed a letter of intent to form a majority-owned energy storage joint venture in Hong Kong…
HIHOHighway Holdings Ltd
Highway Holdings Limited signed a letter of intent to form a majority-owned energy storage joint venture in Hong Kong, tentatively named Huahu International New Energy Technology Company Limited. The venture will have initial contributions valued at US$3.5 million, with Highway Holdings owning 57% and Huahu contributing US$1.5 million in products and technology transfer. Highway Holdings is also planning a restricted share issuance incentive program to Huahu to drive business volume. Highway Holdings is an international manufacturer of high-quality parts and products for equipment manufacturers.