A newly organized blank check company incorporated as a Cayman Islands exempted company formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our “initial business combination.” We intend to focus our search for a target business in the AI transportation industry, specifically focused on logistics, new energy vehicles, smart parking, on-board chips, AI algorithms, automotive services, and other types of “intelligent transportation.” We believe that deep learning, reinforced learning, big data, cloud computing, IoT, and other cutting-edge technologies, such as that promoted by the Institute for AI Research in the field of AI+Transportation, which focuses on self-driving, smart traffic network and cooperative vehicle infrastructure, will facilitate overcoming key technological obstacles to building intelligence into cities’ transportation network, restructuring the smart transportation ecosystem, and realizing safer, greener, more comfortable and efficient travel.
