- Used car dealer Kaixin Auto Holdings KXIN has announced entry into the smaller size electric vehicle (EV) market in China.
- The company’s new energy vehicle unit has launched development plans focused on smaller EV models in the subcompact and mini-compact categories.
- Kaixin is also discussing mergers and acquisitions with several electric car manufacturers to speed up the process.
- Kaixin expects the move to capture the younger generation of consumers in Chinese cities, who prefer vehicles of lighter weight and smaller size.
- Price Action: KXIN shares are trading higher by 14.8% at $3.34 in premarket on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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