Kaixin Auto Holdings to set up energy vehicle business; shares jump
06/08/2021 13:02
** Shares of U.S.-listed Chinese car dealership firm
KXIN.O jump 27% pre-market to a three-week high of $2.11
** Co says it will establish a new energy vehicle (EV)
business unit, which will quickly build up EV R&D, production
and marketing teams urn:newsml:reuters.com:*:nGNXHDNVX
** Says took the decision in the context of the Chinese
government's steady support for accelerated development of EVs
and the rapid growth of the EV market in China
** Up to Thursday's close, stock down ~55% YTD
(Reporting by Shashank Nayar in Bengaluru)
((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2256;))