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

by Shivani Kumaresan, Benzinga Staff Writer

October 6, 2021 2:55 PM | 1 min read | Make a Comment

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.
Related: Kaixin 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.