Welcome to our dedicated page for Kaixin Holdings news (Ticker: KXIN), a resource for investors and traders seeking the latest updates and insights on Kaixin Holdings stock.
Kaixin Holdings (KXIN) delivers innovative solutions at the intersection of luxury auto retail and next-generation electric vehicle production. This news hub provides investors and industry observers with essential updates on corporate developments, technological advancements, and market strategies.
Access real-time announcements including quarterly earnings disclosures, manufacturing milestones in autonomous driving systems, and strategic partnerships within the sustainable mobility sector. Our curated collection features press releases about new energy vehicle launches, operational expansions, and leadership updates that shape KXIN's position in global markets.
Key focus areas include breakthroughs in AI-powered automotive technologies, regulatory compliance achievements, and cross-border collaborations impacting both luxury car sales channels and EV production capabilities. Subscribers receive alerts about material events affecting the company's dual business model spanning high-end retail and advanced manufacturing.
Bookmark this page for streamlined access to Kaixin Holdings' official communications, supplemented by contextual analysis of industry trends influencing the electric passenger vehicle market and premium automotive services.
Kaixin Auto Holdings (NASDAQ: KXIN) has announced a US$20 million strategic investment from multiple institutions to support its new energy vehicle strategy, with US$2 million already funded. The remaining funds are expected by the end of Q1 2022. This financing will facilitate the development of new energy trucks aimed for mass production and delivery in the latter half of the year. CEO Mingjun Lin emphasized the significant market potential for electric trucks in China, highlighting a shift from fossil fuels to electric vehicles.
Kaixin Auto Holdings (NASDAQ: KXIN) has appointed Mr. Wu Liang as the general manager of its new energy vehicles division. Mr. Liang brings over ten years of investment experience in TMT and automotive sectors, enhancing Kaixin's expertise in both internet and automotive industries. The company is transitioning to focus on new energy vehicles and has reported a surge in customer orders. Chairman and CEO Mingjun Lin emphasized the need for skilled management to achieve Kaixin’s strategic goals in the evolving automotive landscape.
Kaixin Auto Holdings (NASDAQ: KXIN) reported its financial results for the first half of 2021, highlighting a 205.7% increase in net revenues to $2.04 million. The company completed a reverse acquisition of Haitaoche on June 25, 2021, valued at $161.8 million. Despite revenue growth, Kaixin faced significant challenges, incurring a net loss of $144.2 million due to a full impairment of goodwill of $143.7 million. Looking ahead, the company anticipates sales revenues to exceed $150 million in the second half of 2021, leveraging combined resources for growth.
Kaixin Auto Holdings (NASDAQ: KXIN) has formed a strategic partnership with Beijing Shencheng Biotechnology Group, agreeing to supply 10,000 customized new energy trucks over the next five years for approximately $250 million. Shencheng, known for waste sorting and recycling, will utilize these vehicles for environmental projects across China. CEO Mingjun Lin highlighted this as a significant advancement in Kaixin's new energy vehicle sector, aiming for prototype releases in the first half of 2022 and expedited mass production and delivery.
Kaixin Auto Holdings (KXIN) has announced a strategic partnership with Beijing Bujia International Logistics, securing an order for at least 10,000 new energy trucks over five years, valued at over $500 million. Bujia plans to establish 300 automotive logistics warehouses and 1,000 delivery centers, integrating a fleet of over 60,000 trucks, with at least 30% being new energy vehicles. This collaboration marks a significant step for Kaixin's new energy vehicle business unit, as it aims to expand in the growing Chinese market.
On December 1, 2021, Kaixin Auto Holdings (KXIN) unveiled its strategic plan for new energy vehicles (NEVs), aiming to develop medium-sized NEVs for logistics by 2025. The production target is set at 50,000 vehicles over three years. The company is enhancing its energy vehicle team and exploring mergers and acquisitions to solidify its position in the NEV market. CEO Mingjun Lin expressed confidence in the transition to this new business model, which comes after extensive review and plans for collaboration with strategic investors.
Kaixin Auto Holdings (NASDAQ: KXIN) reported substantial growth in its POCCO electric vehicle sales, reaching 8,661 units in October 2021, with significant contributions from the DuoDuo and MeiMei models, increasing by 33.7% and 12.2% over September. Total POCCO sales surpassed 20,000 units. This growth aligns with the broader Chinese automotive market, which recorded 2.33 million total sales, including a record 397,000 new energy vehicles. CEO Mingjun Lin emphasized the shift from policy-driven to market-driven sales for new energy vehicles in China.
Kaixin Auto Holdings (NASDAQ: KXIN) announced a significant increase in sales for its POCCO brand electric vehicles, with September sales doubling compared to August. Orders exceeded 3,000 units, marking a 130% increase from 1,300 units in August, while actual deliveries reached around 1,200 units, up 200% from 400. The company anticipates reaching 11,500 total sales in Q4. CEO Mingjun Lin expressed confidence in the continued growth of the electric vehicle market in China and aims for 120,000 unit sales in 2022.
Kaixin Auto Holdings (NASDAQ: KXIN) announces strong sales forecasts for its POCCO brand electric vehicles produced by Henan Yujie Times Automobile Co. The MeiMei model has sold over 6,000 units since March 2021, and the newly launched DuoDuo model is projected to reach a combined sales volume of 15,000 units in 2021 and 50,000 units in 2022. The company aims to capture the small-sized EV market, which has seen significant growth in China, with new energy vehicle sales increasing by 205.4% year-on-year in the first half of 2021.
Kaixin Auto Holdings (NASDAQ: KXIN) announced on August 26, 2021, a binding term sheet to acquire 100% equity of Henan Yujie Times Automobile Co., Ltd., marking its entry into China’s small-sized EV market. Yujie, established in 2017, has a production capacity of 150,000 vehicles and offers innovative multi-functional EVs under the POCCO brand. The acquisition aims to create a competitive advantage in the rapidly growing EV sector, which is expected to reach 10 million units in five years. The deal emphasizes Kaixin's vision of building an EV ecosystem and enhancing its market position.
