Benzinga | Oct 6, 2021 02:55PM EDT

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

* Kaixin Auto Holdings (NASDAQ: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.