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Start your engines: A new “made in China” option for investors looking to tap a developing market for car-based technology powering everything from entertainment systems to digital cockpits is zooming down the pipeline en route to a U.S. listing.
The company in the driver’s seat this time is Ecarx Holdings Inc., which said on Monday that the registration statement for its previously announced U.S. listing plan using a special purpose acquisition company (SPAC) called Cova Acquisition Corp. (COVA.US) has been declared effective by the U.S. securities regulator. That brings it one step closer towards becoming a publicly traded company on the Nasdaq, with Cova shareholders set to vote on the deal Dec. 14.