Plus plans to merge with Hennessy Capital Investment Corp. V in a transaction that would bring the company, which is based in California and China, about $500 million in gross proceeds and a market capitalization of roughly $3.3 billion. The agreement is expected to close in the third quarter, the companies said Monday. The deal would provide "a significant cash infusion for us to expand our commercialization efforts," Plus Chief Executive and co-founder David Liu said, as the company steps up production and aims to fill thousands of contracted orders and vehicle reservations from Chinese and U.S. fleets. The transaction would include a $150 million private placement of shares with BlackRock Inc., D.E. Top news and in-depth analysis on the world of logistics, from supply chain to transport and technology.