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On May 14, 2024, Hudson Acquisition I Corp. (NASDAQ: HUDA) announced a letter agreement with Aiways Automobile Europe GmbH for a business combination. This de-SPAC transaction values Aiways Europe at approximately $400 million. The deal is expected to close by December 31, 2024, resulting in HUDA shareholders becoming minority, non-controlling shareholders in the merged entity. The combination aims to enhance Aiways Europe's growth in the European EV market, leveraging HUDA's resources and alignment with European design trends. Key executives from both companies expressed optimism about the strategic benefits and future growth prospects of the merger.