From R&D To Runways: Kaixin Auto Reveals Strategic Move To Own 100% Of WM Motor
Portfolio Pulse from Shivani Kumaresan
Kaixin Auto Holdings (NASDAQ:KXIN) plans to acquire 100% of WM Motor Holdings Limited by issuing new shares. WM Motor is a Chinese smart new energy vehicle company with capabilities in product design, R&D, supply chain management, vehicle and battery pack manufacturing, online digital marketing, sales and services channels, auto financing, etc. WM Motor has sold over 100,000 smart electric passenger cars in about 200 cities in China.
September 11, 2023 | 2:11 pm
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Kaixin Auto Holdings is acquiring 100% of WM Motor, a Chinese smart new energy vehicle company. This strategic move has led to an increase in KXIN's share price.
The acquisition of WM Motor by Kaixin Auto Holdings is a strategic move that expands KXIN's capabilities in the smart new energy vehicle sector. This has led to positive investor sentiment, reflected in the 8.5% increase in KXIN's share price.
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