Benzinga | Nov 15, 2021 10:56AM EST

Kaixin Auto Holdings Announces POCCO EV Sales Exceed 20,000 Units

Kaixin Auto Holdings ("Kaixin" or the "Company") (NASDAQ:KXIN) today announced that according to Henan Yujie Times Automobile Co., Ltd., which signed a binding M&A term sheet with Kaixin in August 2021, the sales volume of its POCCO electric vehicle ("EV") models in October reached 8,661 units, of which sales of the DuoDuo and MeiMei models accounted for 5,627 and 3,034 units respectively, a 33.7% and 12.2% increase over September. As of October, total sales of POCCO EV models exceeded 20,000 units.



According to data released by the China Association of Automobile Manufacturers, China's auto sales in October were 2.33 million units. New energy vehicles performed strong, whose production and sales reached a record high of 397,000 and 383,000 units in October respectively, an increase of 12.5% and 7.2% over the previous month. Mr. Mingjun Lin, Chairman and CEO of Kaixin said: "Mini cars and mid-size cars have become the two main stream models of new energy vehicle sales in China. This year marks a turning point for China's new energy vehicles to transform from policy-driven to market-driven."