Kaixin Notes Solid Growth In Yujie's POCCO EV Delivery In September

  • Kaixin Auto Holdings KXIN announced that POCCO brand electric vehicles (EV) delivery in September rose 200% to 1200 units over 400 units in August.
  • Kaixin has signed a binding term sheet to acquire Henan Yujie Times Automobile Co Ltd, which produces the POCCO EVs.
  • RelatedKaixin Signs Binding Term Sheet To Acquire EV Manufacturer
  • Yujie launched two EV models under the POCCO brand, MeiMei in March and DuoDuo in August.
  • According to Yujie, orders for POCCO EVs exceeded 3,000 units in September, constituting a 130% increase over 1,300 units in August. Total sales in the upcoming Q4 are expected to reach 11,500 units.
  • Price Action: KXIN shares are trading higher by 0.44% at $2.28 on the last check Wednesday.
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