The SAIC, Wanxiang, Full Truck Alliance and Quanta Computer-backed autonomous trucking technology developer will list on the Nasdaq Capital Market through the deal.

Plus, a US-based automated driving technology developer backed by trucking services firm Full Truck Alliance, electronics producer Quanta Computer, automotive component maker Wanxiang and carmaker SAIC, announced a reverse merger yesterday.

The deal involves the company merging with special purpose acquisition company Hennessy Capital Investment Corp V at a $3.3bn valuation, with the combined business taking the Nasdaq Capital Market listing secured by the latter in a $300m initial public offering in February this year.

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.