FX.co ★ SciSparc Says AutoMax Receives First Delivery Of Vehicles From Jianghuai Automobile

SciSparc Ltd. (SPRC), a company specializing in clinical-stage pharmaceuticals, announced on Thursday that AutoMax Motors Ltd. from Israel has received its inaugural shipment of vehicles, valued at $13 million, manufactured by Anhui Jianghuai Automobile Group Co. This marks the commencement of AutoMax's direct import and distribution operations, backed financially by SciSparc.

Earlier, in April 2024, SciSparc entered into a merger agreement with AutoMax. The completion of this merger is set to facilitate SciSparc's strategic entry into the automotive industry.

Under the terms of the agreement with Jianghuai, AutoMax will initiate marketing and sales efforts for JAC Motors vehicles throughout Israel.