Highway Holdings Signs LOI to Launch Majority-Owned Energy Storage Venture with WOWTIGER Brand Owner HUAHU
HONG KONG — Highway Holdings Limited (Nasdaq: HIHO) has signed a letter of intent with Guangdong Huahu New Energy Technology Co., Ltd. ("Huahu"), the China-based manufacturer of battery energy storage systems marketed under the WOWTIGER brand, to form a majority-owned joint venture headquartered in Hong Kong.
The LOI outlines a broad strategic cooperation combining Huahu's advanced products and technology with Highway Holdings' international manufacturing capabilities, European operating presence and established commercial relationships. The venture targets an initial capital commitment of $3.5 million.
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