Kaixin auto holdings announces entering into new energy vehicle business

Beijing, aug. 06, 2021 (globe newswire) -- kaixin auto holdings (“kaixin” or the “company”) (nasdaq: kxin) today announced that the company has decided to establish a new energy vehicle (ev) business unit, which will quickly build up ev r&d, production and marketing teams. the corporate strategic move has been made in the context of the chinese government's steady support for accelerated development of evs and the rapid growth of ev market in china. with chinese consumers' ever increasing recognition of ev, new energy vehicles are expected to become the mainstream consumer model in the auto industry.
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