Kaixin Auto Holdings Announced Launching of New Brand and

BEIJING, July 27, 2022 (GLOBE NEWSWIRE) — Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) broadcasts at present that it has launched the model “TECROLL” for its new vitality business autos and delivered the primary electrical logistics truck.

New vitality business car is the main focus of Kaixin’s new vitality autos business endeavor. Tecroll stands for “exploring the infinity and reaching the goal”, symbolizing a journey of steady progress and inclusion. The first mannequin of Tecroll is an electrical logistics truck, and Kaixin Auto has efficiently accomplished the design and manufacture of the prototype.

Kaixin and Beijing Bujia Technology Co., Ltd. (“Bujia”) held a joint ceremony for the supply of the primary Tecroll electrical logistics truck, which initiated the supply course of for Bujia’s order of 5,000 electrical logistics vehicles.

Mr. Yadong Zhu, chairman of Bujia, stated by way of environment friendly communications between the 2 events, the immediate launch of the primary Tecroll electrical logistics car efficiently met the supply schedule. Bujia will put the brand new vitality vehicles in use on the automotive logistics market.

Mr. Wu Liang, basic supervisor of Kaixin’s new vitality autos division, stated the Tecroll model upholds the core values of open ecosystem and service first and goals to shortly obtain mass manufacturing and supply so as to meet the rising demand in Chinese market.

About Kaixin Auto Holdings

Kaixin Auto Holdings is one of the first dealership networks within the premium used automobile phase and new automobile gross sales in China. Supported by the speedy development of China’s used automobile market and leveraging its personal hybrid business mannequin that provides each robust on-line and offline presence, Kaixin is within the course of of remodeling from a nationwide dealerships community to 1 of the vital gamers in China’s electrical car market.

Safe Harbor Statement

This announcement might include forward-looking statements. These statements are made below the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements may be recognized by terminology resembling “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and related statements. Among different issues, the business outlook for 2021 and quotations from administration on this announcement, in addition to Kaixin’s strategic and operational plans, include forward-looking statements. Kaixin may additionally make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission (“SEC”), in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or staff to 3rd events. Statements that aren’t historic info, together with statements about Kaixin’s beliefs and expectations, are forward-looking statements. Forward-looking statements contain inherent dangers and uncertainties. A quantity of components might trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: our targets and methods; our future business improvement, monetary situation and outcomes of operations; our expectations relating to demand for and market acceptance of our providers; our expectations relating to the retention and strengthening of {our relationships} with auto dealerships; our plans to reinforce consumer expertise, infrastructure and service choices; competitors in our business in China; and related authorities insurance policies and laws regarding our business. Further info relating to these and different dangers is included in our different paperwork filed with the SEC. All info offered on this press launch and within the attachments is as of the date of this press launch, and Kaixin doesn’t undertake any obligation to replace any forward-looking assertion, besides as required below relevant legislation.

For extra info, please contact:

Kaixin Auto Holdings 
Investor Relations
Email: [email protected] 

SOURCE: Kaixin Auto Holdings