Kaixin auto holdings announces binding acquisition term sheet with morning star and joint plans to grow pocco ev

Beijing, sept. 26, 2022 (globe newswire) -- kaixin auto holdings (“kaixin” or the “company”) (nasdaq: kxin) announces today that it has signed a binding acquisition term sheet with wuxi morning star technology co., ltd. (“morning star”), who manufactures and operates the pocco evs. according to the term sheet, kaixin intends to acquire 100% equity of morning star through new share issuance and makes it a wholly owned subsidiary.
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