Mergers & Acquisitions ·
Highway Holdings Limited signed a master agreement to form a majority-owned joint venture with Guangdong Huahu New…
HIHOHighway Holdings Ltd
Highway Holdings Limited signed a master agreement to form a majority-owned joint venture with Guangdong Huahu New Energy Technology Co., Ltd. Highway Holdings will own 57% of the new entity, Huahu International New Energy Technology Company Limited, contributing approximately $2.0 million in cash, while Huahu contributes products and technology valued at $1.5 million. The venture markets Wowtiger-branded battery energy storage systems in Germany, Italy, the US, and South America. Highway Holdings may issue up to 400,000 restricted shares based on performance milestones. The transaction aims to diversify revenue beyond traditional OEM manufacturing by leveraging Huahu’s technology and Highway Holdings’ global distribution and production capabilities. Highway Holdings Limited is an international manufacturer of high-quality parts and products for equipment manufacturers.