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      Why The Kaixin Auto (KXIN) Stock Increased 18% Pre-Market? - Stocks Telegraph

      By Fahim Awan

      Published on

      March 22, 2022

      1:47 PM UTC

      Why The Kaixin Auto (KXIN) Stock Increased 18% Pre-Market? - Stocks Telegraph

      Kaixin Auto Holdings (KXIN) has advanced 17.69% at $1.53 in pre-market trading hours on the last check Tuesday. The stock of Kaixin Auto (KXIN) stabilized with a rise of 0.78% to complete the last trading session at $1.30. The price range of the company’s shares was between $1.19 and $1.37. It traded 616K shares, which was below its daily average of 1.74 million shares over 100 days. KXIN’s shares have jumped by 34.56% in the last five days, while they have moved up 27.45% in the last month. KXIN stock is surging after announcing a significant order.

      What order has Kaixin Auto received?

      Kaixin Auto (KXIN) is one of the essential showroom networks in the exceptional pre-owned vehicle fragment and new vehicle deals in China. Upheld by the fast development of China’s trade-in vehicle market and utilizing its own mixture plan of action that offers both solid on the web and disconnected presence, KXIN is currently changing from a cross-country showrooms organization to one of the significant players in China’s electric vehicle market.

      Kaixin Auto (KXIN) reports today that it has marked a deal request for 5,000 new energy logistic vehicles with Beijing Bujia Technology Co., Ltd. (“Bujia”).

      • Bujia will arrange a sum of 1 billion RMB (comparable to $156 million) worth of new energy vehicles from KXIN in 2022 and 2023.
      • The deals request is the underlying execution of the 10,000-unit purposeful request that came to among KXIN and Bujia in 2021.
      • Bujia is the main car operations specialist organization in China.
      • Its administration stage conveys 6,490 car transportation lines with a limit of 22,000 vehicles.
      • The essential association between Bujia and KXIN has been based upon their correlative assets.
      • Through this arrangement, Bujia is adding another engaging part to its foundation notwithstanding current coordinated factors, conveyance and financing administrations.
      • New energy strategies vehicles deals will advance Bujia’s plan of action and increment its business development potential.
      • The plan of action of KXIN’s new energy vehicles office is to lay out essential organizations with stages that have large deals possibilities and to make tweaked creations as per client needs.

      How will KXIN leverage the relationship?

      Moreover, Bujia is holding the 2022 China Carriers Conference in the subsequent quarter. Kaixin Auto (KXIN) and Bujia will mutually deliver renderings of the new energy operations vehicles at the gathering and direct market advancement and pre-deals training to taking an interest transporter to work with smooth conveyance of deals orders beginning in the second from last quarter of this current year. Thusly, Bujia is certainly not a simple client yet it is more similar to key organizations with a great deal of normal interest.

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