Business
Kaixin Auto Holdings Announced Launching of New Brand and Delivery of First New Energy Vehicle
BEIJING, July 27, 2022 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) announces today that it has launched the brand
About this update from Kaixin Holdings
[{"type":"text","content":"BEIJING, July 27, 2022 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) announces today that it has launched the brand \"TECROLL\" for its new energy commercial vehicles and delivered the first electric logistics truck. New energy commercial vehicle is the focus of Kaixin’s new energy vehicles business endeavor. Tecroll stands for \"exploring the infinity and reaching the goal\", symbolizing a journey of continuous progress and inclusion. The first model of Tecroll is an electric logistics truck, and Kaixin Auto has successfully completed the design and manufacture of the prototype. Kaixin and Beijing Bujia Technology Co., Ltd. (“Bujia”) held a joint ceremony for the delivery of the first Tecroll electric logistics truck, which initiated the delivery process for Bujia’s order of 5,000 electric logistics trucks. Mr. Yadong Zhu, chairman of Bujia, said through efficient communications between the two parties, the prompt release of the first Tecroll electric logistics vehicle successfully met the delivery schedule. Bujia will put the new energy trucks in use on the automotive logistics market. Mr. Wu Liang, general manager of Kaixin's new energy vehicles department, said the Tecroll brand upholds the core values of open ecosystem and service first and aims to quickly achieve mass production and delivery in order to meet the growing demand in Chinese market. 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 announceme...