Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Kaixin Auto Holdings Announces Entry into a Vehicles Supply Contract between Haitaoche Limited .
Kaixin Auto HoldingsJanuary 11, 2021 GMT
BEIJING, Jan. 11, 2021 (GLOBE NEWSWIRE) Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announced that Haitaoche Limited (“Haitaoche”) has entered, through one of its subsidiaries, into a five-year vehicles supply contract (the “Vehicles Supply Contract”) with China National Vehicles Imp & Exp Co., Ltd. (“CVC”) on January 11, 2021. Kaixin entered into a definitive share purchase agreement with the shareholders of Haitaoche on December 31, 2020, pursuant to which Kaixin will acquire 100% of the share capital of Haitaoche from the shareholders of Haitaoche.1