Senmiao Technology Announces Signing Of Strategic Cooperation Agreement With Sichuan Xingyuan Ronghe New Energy Group
Portfolio Pulse from Benzinga Newsdesk
Senmiao Technology Limited (AIHS) has signed a strategic cooperation agreement with Sichuan Xingyuan Ronghe New Energy Co., Ltd. The agreement will see Xingyuan provide comprehensive financing solutions for Senmiao and its partners, as well as resources such as discounted NEV purchasing channels and new energy battery swapping vehicle operations. This is expected to accelerate the growth of Senmiao's automobile rental business and online ride-hailing platform services.

October 17, 2023 | 1:19 pm
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Senmiao Technology's strategic cooperation with Xingyuan is expected to provide comprehensive financing solutions and resources, which could accelerate the growth of Senmiao's automobile rental business and online ride-hailing platform services.
The strategic cooperation agreement with Xingyuan provides Senmiao with comprehensive financing solutions and resources, which are expected to lower the cost to purchase NEVs for drivers and accelerate the growth of its automobile rental business and online ride-hailing platform services. This could potentially increase Senmiao's revenues and profitability, which would likely have a positive impact on its stock price.
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