# Chijet Motor Company to go public via SPAC merger with Deep Medicine Acquisition Corp.

Chijet Motor Company signed a business combination agreement with Deep Medicine Acquisition Corp., valuing Chijet at $2.55 billion. The deal will provide up to $127.8 million in net proceeds to fund EV development and expansion.

- Type: Acquisition
- Announced: 2022-07-13
- Where: Jilin City, China, China
- Value: $2.55B
- Status: announced
- Capacity: 240,000 vehicles per year (existing), 200,000 vehicles per year (under construction)
- Products: electric vehicles, gasoline vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Chijet Motor Company](https://endata.com/companies/64122.md) (target)
- [Deep Medicine Acquisition Corp.](https://endata.com/companies/64123.md) (acquirer)

## Sources

- [globenewswire.com](https://www.globenewswire.com/news-release/2022/07/13/2478777/0/en/chijet-motor-company-inc-has-entered-into-a-business-combination-agreement-with-deep-medicine-acquisition-corp-to-become-a-public-company-to-advance-its-electric-vehicle-business-a.html), 2022-07-13: "Achieving the public listing milestone would enable Chijet to accelerate its electric vehicle development, manufacturing and sales"

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.