Chijet Motor Company, an automobile company, failed to go public via a SPAC merger with Deep Medicine Acquisition, a blank cheque company, in a $2.55bn deal. “We are focused on our vision to develop and produce electric vehicles with the latest energy-saving technologies, which has never been more important than today given the soaring cost of oil. Our management team is committed to delivering on our plans to expand our electric vehicle business and leverage our existing dealer network, our manufacturing permits and licenses, and supply chain and production capabilities," Mu Hongwei, Chijet Chairman.