Saean, a U.S. corporation based in Nevada, recently acquired the U.S. OTCQB company as a subsidiary and will change its name to "Saean EV" in August, the company said.
It also confirmed the appointment of U.S. headquarters CFO William Sawyer as its CEO with the new company and Ian Dixon as its president.
Earlier in the day, a U.S. corporate official in Saean said the U.S. firm has secured a 63 percent stake in the "SAEAN EV" and plans to secure a continued additional stake in the company later.