SciSparc Says AutoMax Receives First Delivery Of Vehicles From Jianghuai Automobile

(RTTNews) - SciSparc Ltd. (SPRC), a specialty clinical-stage pharma company, announced Thursday that AutoMax Motors Ltd. of Israel has received its first shipment of vehicles worth $13 million, manufactured by Anhui Jianghuai Automobile Group Co. This is the first direct import and distribution operations of AutoMax, with the financial support of SciSparc.

SciSparc had entered into an agreement and plan of merger with AutoMax earlier in April 2024. When the merger is completed, that would pave the way for SciSparc's expansion into the automotive sector.

As per the agreement with Jianghuai, AutoMax will begin marketing and sales activities for JAC Motors vehicles across Israel.