According to TechFlow, EV Electra, a Middle Eastern electric vehicle company, plans to invest $1 billion to participate in the restructuring of GAC Motor and seek control. On May 22nd, Jiangsu Gaohe Automobile was established, jointly invested by EV Electra and Huaren Yuntong, with shareholding ratios of 69.8% and 30.2% respectively. The environmental impact assessment report of Yancheng Economic Development Zone shows that the renovation project of Yueda Kia Factory has started, with plans to produce three models of Gaohe, and is expected to be completed in October this year.
The EV Electra official website has launched the ecological token EVET, with 1 EVET=1 USDT, which supports cryptocurrency and bank transfer purchases. According to its white paper released in April 2025, it plans to raise $840 million through tokens and adopt a dual token system, with EVENT in the form of NFT, promising to distribute 10% of net profit to holders.
It is worth noting that EV Electra was accused of stealing design images from car companies such as Skywell in 2023 and was involved in cryptocurrency fraud controversies. Founder Jihad Mohammad stated that the relevant responsible persons have been dealt with. At present, the brand image of Gaohe has been used on the token marketing page of EV Electra.
