Baiyu completes acquisition of controlling equity interest in electra new energy vehicle inc

Shenzhen, china , july 9, 2024 /prnewswire/ -- baiyu holdings, inc. ("baiyu" or the "company") (nasdaq: byu), a leading b2b bulk commodity e-commerce platform and supply chain service provider, today announced that on june 14, 2024, the company, through its wholly owned subsidiary legend investment holdings co. limited, completed the acquisition (the "acquisition") of majority stake in electra new energy vehicle inc ("enev"), a u.s.-registered company based in los angeles specializing in the new energy vehicle ("nev") sector. following the closing of the acquisition, baiyu now holds a controlling interest of 60% in enev.
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