XiaoHydrogen Auto signs merger agreement with SPAC and plans to go public in the U.S.

On July 12, Shanghai XiaoHydrogen Automobile Co., Ltd. signed a merger agreement with Aquaron Acquisition, a special purpose acquisition company in the United States, and plans to go public on the Nasdaq through a backdoor listing, with an estimated market value of US$1 billion. XiaoHydrogen Automobile specializes in the research and development and manufacturing of hydrogen fuel cell vehicles.