Kaixin Auto Holdings Announces Order of 10,000 Electric Trucks
10 May 2022 - 9:00PM
Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN)
announces today that it has signed a sales order for 10,000
electric trucks with Beijing Shencheng Biotechnology Group Limited
(“Shencheng”). Shencheng will be ordering 10,000 electric trucks
with a total value of US$600 million from Kaixin during 2023 to
2025. The trucks will be used in its waste recycling business.
Shencheng is a well-known biotechnology company in
China, specializing on urban waste sorting and recycling business.
It has set up plans to carry out waste treatment business
operations in Xinjiang, Guizhou, Guangxi, and Yunnan provinces.
This sales order is the implementation of the 10,000-unit
intentional order reached between Kaixin and Shencheng in December
2021. Kaixin aims to custom design two new energy truck prototypes
for Shencheng in the second half of this year and achieve mass
production and delivery in 2023.
Mr. Wu Liang, general manager of Kaixin's new
energy vehicle business department, said: "The signing of the sales
contract with Shencheng is another major achievement of Kaixin
after the sales order with Beijing Bujia Technology Co., Ltd.,
which demonstrates our business strategy focusing on producing
custom-built new energy vehicles for strategic partners has gained
market recognition. Although China's electric trucks are currently
in their early stage, we expect the peak sales season will come
soon. Kaixin will stride forward and enhance market recognition
with sales performance."
About Kaixin Auto Holdings
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 is in the process
of transforming from a nationwide dealerships network to one of the
important players in China’s electric vehicle market.
Safe Harbor Statement
This announcement may contain forward-looking
statements. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements.
Among other things, the business outlook for 2021 and quotations
from management in this announcement, as well as Kaixin’s strategic
and operational plans, contain forward-looking statements. Kaixin
may also make written or oral forward-looking statements in its
filings with the U.S. Securities and Exchange Commission ("SEC"),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about Kaixin’s beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: our goals and strategies; our future
business development, financial condition and results of
operations; our expectations regarding demand for and market
acceptance of our services; our expectations regarding the
retention and strengthening of our relationships with auto
dealerships; our plans to enhance user experience, infrastructure
and service offerings; competition in our industry in China; and
relevant government policies and regulations relating to our
industry. Further information regarding these and other risks is
included in our other documents filed with the SEC. All information
provided in this press release and in the attachments is as of the
date of this press release, and Kaixin does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
For more information, please
contact:
Kaixin Auto
Holdings Investor RelationsEmail:
ir@kaixin.com
SOURCE: Kaixin Auto Holdings
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