Corporate-backed driverless truck technology developer Plus will no longer merge with the publicly listed Hennessy Capital Investment Corp V.
US-based autonomous driving software developer Plus, which counts corporates SAIC, Wanxiang, Full Truck Alliance and Quanta Computer as investors, has called off a proposed reverse merger.
Founded in 2016, Plus is working on autonomous vehicle technology intended for use in driverless long-haul trucks.
The company agreed a deal with special purpose acquisition company Hennessy Capital Investment Corp V in May this year which would have involved them joining forces at a $3.3bn valuation and inheriting the latter’s listing on…
