Robo.ai Acquires 51% Stake in Chinasky
Robo.ai announced that it has entered into a definitive share purchase agreement to acquire a 51% equity interest in Chinasky Car Trading FZE, an automotive trading company based in the United Arab Emirates. The transaction is intended to transform CCT's established trade network within the Jebel Ali Free Zone into a central global distribution hub for Robo.ai. This integration is expected to reduce the market entry cycle for the Company's intelligent hardware portfolio. This distribution network is intended to support the deployment of the Company's future hardware pipeline, including Robotaxis, eVTOL aircraft, and intelligent logistics robots, thereby advancing the Company's strategy encompassing AI software, intelligent hardware, and smart assets. Specifically, the Company's commercial vehicle joint venture, RoBUS, will leverage CCT's infrastructure to establish a dual-drive infrastructure combining manufacturing and distribution. RoBUS's customized commercial vehicle series will gain immediate access to CCT's distribution channels across more than 20 markets in Central Asia, North Africa, and Eastern Europe, serving as a complementary growth driver to the manufacturing partner's existing network. Located in the Jebel Ali Free Zone, CCT generated approximately over AED 100M or approximately $30M in revenue for the FY25.