- Kaixin Auto Holdings KXIN has reached a strategic partnership agreement with Beijing Shencheng Biotechnology Group Limited for supplying its new energy trucks.
- Under the agreement, Shencheng will purchase 10,000 customized new energy trucks from Kaixin over the next 5 years. The total value of the deal is $250 million.
- "This is another major breakthrough of Kaixin in the new energy vehicle business," said Kaixin CEO Mingjun Lin.
- Price Action: KXIN shares are trading higher by 15.6% at $1.63 in premarket on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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