Deals
Geely-Backed Ecarx Weighs SPAC Merger at $4 Billion Value
- Li’s Ecarx working with adviser on potential U.S. SPAC deal
- Separately, Geely weighing commercial vehicle unit funding
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Chinese billionaire Li Shufu is on a fundraising blitz as he pursues ambitious goals for his global automotive empire.
Smart car technology company Ecarx Co., whose backers include Li and his Zhejiang Geely Holding Group Co., is considering seeking a U.S. listing via a merger with a blank-check company, according to people with knowledge of the matter. A deal could value the business at about $4 billion, the people said, asking not to be identified as the information is private.