BEIJING, Aug. 12, 2022 (GLOBE NEWSWIRE) — Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) publicizes right this moment that the Company’s new vitality industrial automobile (the “EV”) headquarters has been put into operations in Suzhou City, Anhui Province.
Kaixin’s EV business division has settled down in Suzhou and rapidly entered into operations. The business-friendly setting and numerous stimulus measures granted by the native authorities are anticipated to offer vital advantages to environment friendly growth of the Company’s EV business. The current launch of the “TECROLL” EV model and the supply of the primary electrical logistics truck in July marks a outstanding achievement. Kaixin will maintain pushing ahead in its efforts to enhance strategic planning and overcome the bottle necks with a purpose to understand immediate mass manufacturing of recent vitality industrial vehicles.
Anhui Province is among the many few Chinese provinces that present the most important help to new vitality automobile trade. Suzhou metropolis council has adopted the brand new vitality industrialization challenge into its “14th Five-Year Plan”. The Suzhou authorities attaches nice significance to the touchdown of Kaixin’s new vitality industrial automobile headquarters within the metropolis and has provided quite a few helps and preferential insurance policies to the EV business in a “case by case evaluation” strategy.
About Kaixin Auto Holdings
Kaixin Auto Holdings is likely one of the main dealership networks within the premium used automotive section and new automotive gross sales in China. Supported by the fast development of China’s used automotive market and leveraging its personal hybrid business mannequin that provides each robust on-line and offline presence, Kaixin is within the course of of reworking from a nationwide dealerships community to one of many vital gamers in China’s electrical automobile 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 could be recognized by terminology corresponding to “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 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 details, together with statements about Kaixin’s beliefs and expectations, are forward-looking statements. Forward-looking statements contain inherent dangers and uncertainties. Numerous elements might trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: our objectives and methods; our future business growth, monetary situation and outcomes of operations; our expectations concerning demand for and market acceptance of our companies; our expectations concerning the retention and strengthening of {our relationships} with auto dealerships; our plans to boost consumer expertise, infrastructure and repair choices; competitors in our trade in China; and related authorities insurance policies and laws referring to our trade. Further info concerning 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
