Business
Kaixin Auto Holdings Announces Intention Order for 5,000 Electric Vehicles for Health Services
BEIJING, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) announces today that it has signed a strategic
About this update from Kaixin Holdings
[{"type":"text","content":"BEIJING, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) announces today that it has signed a strategic partnership agreement with National Kangyuan Technology Co., Ltd. (\"National Kangyuan\"), which commits to purchase 5,000 new energy vehicles custom made for public health services over the next three years. The total amount of this intention order is about RMB 2 billion (equivalent to USD$295 million). As a company specialized in smart medical testing, National Kangyuan provides a full range of health management services in China including testing and evaluation, and popular science education, contributing to the improvement and reform of the national health system through its involvement in the Healthy Villages and Cell Engineering projects. Its business mainly involves routine physical examinations, chronic disease screening, and other public health services. The medical vehicles ordered from Kaixin will be mounted with intelligent testing equipment that provides high mobility to its medical staff to collect and process medical data that would be integrated into the national health system. China’s \"14th Five-Year\" National Health Plan aims to significantly enhance the nation’s public health service capacity by 2025, which is expected to generate higher demand for the types of products and services offered by National Kangyuan. Mr. Wu Liang, general manager of Kaixin's new energy vehicle business department, said: \"This is the first major business order Kaixin has obtained after the launch of the TECROLL brand, which demonstrates that Kaixin's strategic focus on new energy commercial vehicles has gained increasing customer recognition. We will continue our efforts on in-depth mining and recruiting of industrial customers.\" 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 ...