Scage Future, a leader in zero-emission technology for new energy commercial vehicles, merges with Finnovate Acquisition Corp to list on NASDAQ, aiming to drive growth in the sustainable transport sector.

Information on the Target

Scage Future, a pioneering provider of zero-emission technology focused on new energy heavy-duty commercial vehicles and clean fuel solutions, has successfully completed a business combination with Finnovate Acquisition Corp. The merged entity, Scage, is set to list its American Depositary Shares (ADS) on the NASDAQ stock exchange under the ticker symbol "SCAG" on June 30. Scage aims to facilitate the decarbonization of the global commercial transport sector through an advanced portfolio of new energy commercial vehicle products and innovative clean fuel systems.

The company boasts strategic partnerships with leading automotive manufacturers and employs a rigorous quality control system throughout its operations. Scage specializes in designing, producing, and rigorously testing next-generation heavy-duty new energy commercial vehicles, including standout products such as the Long King II plug-in hybrid dump truck, the Galaxy II plug-in hybrid truck, and autonomous heavy-duty tractors.

Industry Overview in China

The new energy vehicle (NEV) industry in China has witnessed exponential growth, driven by government policies supporting green transportation and sustainability targets. As urban air quality concerns intensify and global climate commitments mou