Robo.ai (AIIO) said Friday it has submitted an application to participate in the pre-restructuring process of smart mobility firm Shanghai JIDU Automobile.
The company said it will now conduct due diligence as well as submit and discuss an investment plan.
Robo.ai said it intends to explore potential synergies with JIDU Auto in areas such as international capital markets and overseas market expansion, aiming to accelerate the commercialization of "automobile robots" globally.
Shares of Robo.ai were up more than 5% in recent premarket activity Friday.
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