Kaixin auto holdings announces commitment of us$20 million strategic investment from investors

Beijing, jan. 03, 2022 (globe newswire) -- kaixin auto holdings (“kaixin” or the “company”) (nasdaq: kxin) announces today that it has secured commitment of us$20 million strategic investment from multiple investment institutions, of which us$2 million has been funded. the remaining is expected to be funded by the end of first quarter of the year. this is the first round of financing after kaixin announced its new energy vehicles strategy. the financing will be used in the development and design of new energy trucks for mass production and delivery in the second half of the year.
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