Sharing Economy International Inc. (OTC: SEII) is advancing its previously announced strategic business combination with Light Across, Inc., an electric vehicle and mobility technology company.

Under the transaction framework, SEII plans to acquire Light Across’s electric vehicle-related assets, including intellectual property, product technologies and know-how, while Light Across is expected to become the controlling shareholder of the combined public company.

The proposed transaction represents an important step in SEII’s transformation toward a technology-driven mobility and logistics platform. By combining Light Across’s EV technology and product development capabilities with SEII’s public-company platform and sharing-economy strategy, the combined company intends to pursue opportunities in electric mobility, vehicle sharing, intelligent fleet management and logistics services.

The transaction remains subject to completion of the applicable agreements, corporate approvals and other closing conditions.