Highway Holdings signs LOI with Huahu for 57%-owned Wowtiger energy storage joint venture - HIHO News | RalliesHighway Holdings signs LOI with Huahu for 57%-owned Wowtiger energy storage joint venture
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HIHO• LOI for majority-owned battery energy storage venture
- Highway Holdings signed an LOI with China’s Guangdong Huahu New Energy to form a majority-owned battery energy storage joint venture.
- Planned Hong Kong venture targets initial contributions of USD 3.5 million; Highway Holdings to invest USD 2 million for a 57% stake.
- Huahu to contribute USD 1.5 million in products and technology, gaining 43% ownership; venture to market Wowtiger-branded systems.
- LOI grants exclusive SKD manufacturing, marketing, distribution rights for Germany, Italy, the US, certain South American markets.
- Deal includes potential restricted share issuances to Huahu tied to milestones, capped at 500,000 shares, with a two-year transfer restriction.
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