FinancialBuzz.com’s latest The Buzz Show: Featuring Our Corporate News Recap on “Kaixin Auto Holdings Revealed it is Entering into a New Energy Vehicle Business”
Kaixin Auto Holdings (NASDAQ: KXIN) climbed over 24% in premarket trading after the company decided to establish a new energy vehicle business unit, which will quickly build up EV R&D, production and marketing teams.
The corporate strategic move has been made in the context of the Chinese government’s steady support for accelerated development of EVs and the rapid growth of EV market in China and the Company has already been engaged in negotiations of mergers and acquisitions with a number of EV manufacturers.
Kaixin Auto Holdings is one of the primary dealership networks in the premium used car segment and new car sales in China. Supported by the rapid growth of China’s used car market and leveraging its own hybrid business model that offers both strong online and offline presence, Kaixin has transformed from a tech-enabled financing platform into a nationwide dealer network that combines its own and affiliated dealers as well as value-added services.
For more information, please visit: Kaixin Auto Holdings
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