EmergeVest tapped investment banks last year to explore strategic options for EV Cargo, according to people familiar with the situation and media reports at the time.
The possibilities included a sale or initial public offering of shares, either of which were expected to value it at $1.5 billion to $2 billion, they said.
“We continue to evaluate and consider all strategic options to drive ongoing delivery of EV Cargo’s corporate growth strategy,” Zarin said in an emailed note.
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