| | NOVEMBER 20239IN FOCUSCHINA BASED BIG TREE CLOUD TO MERGE WITH PLUTONIAN ACQUISITIONSUZUKI TARGETS EXPORTING INDIA-MADE EVS TO JAPAN BY 2025Corp, a US blank-check corporation, has agreed to merge with Big Tree Cloud International Group in order for the Chinese personal care products company to go public in a deal worth around $500 million. The transaction, valued at $10 per share, is scheduled to close in the first half of 2024, pending clearances from the US Securities and Exchange Commission and the Nasdaq Stock Market, according to the firms.After the completion of the merger with the special purpose acquisition company, Big Tree Cloud International Group will be operated under a holding entity named Big Tree Cloud Holdings Ltd and listed on the Nasdaq Stock Market. The proceeds from this transaction will be used for working capital and general corporate purposes, as per reuters.According to the statement, the profits of this transaction will be utilized for working capital and other company reasons. Big Tree Cloud, created in 2020 in the southern Chinese tech capital Shenzhen, specializes on feminine hygiene items such as sterilized feminine pads and menstruation trousers."The proposed business combination with Plutonian Acquisition will enable us to accelerate our effort of accomplishing our mission of offering premium personal care products to consumers and expanding our product portfolio beyond feminine care," said Big Tree Cloud founder Wenquan Zhu. Suzuki Motor of Japan will begin making electric automobiles in India and ship them to Japan as early as 2025. Suzuki would contemplate exporting India-made EVs to partner Toyota Motor for European markets, where they will be sold under the Toyota brand, as part of its efforts to make India its worldwide electric vehicle production base.Suzuki will set up a new production line at a plant in India's western state of Gujarat, where its subsidiary Maruti Suzuki would start producing next autumn. The battery-powered cars that Suzuki plans to export to Japan would be small sports utility vehicles and would have a price tag of around 3 million yen ($20,043) to 4 million yen as per, Nikkei.The production line would also produce gasoline-powered vehicles and would have a capacity of 250,000 units per year. Suzuki Motor Corporation, based in Hamamatsu, Shizuoka, is a Japanese global mobility producer. Automobiles, motorbikes, all-terrain vehicles (ATVs), outboard marine engines, wheelchairs, and a range of other small internal combustion engines are produced by the company. Suzuki was the world's eleventh largest carmaker by output in 2016. Suzuki employs about 45,000 people and has 35 manufacturing sites in 23 countries, as well as 133 distributors in 192 countries. Automobile sales are the tenth largest in the globe, while domestic sales are the third highest in the country.
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