Kaixin Auto Stock Pops On Order For 10,000 Customized Electric Trucks

• Kaixin Auto Holdings (NASDAQ:KXIN) has reached a strategic partnership agreement with Beijing Shencheng Biotechnology Group Limited for supplying its new energy trucks.
• Under the agreement, Shencheng will purchase 10,000 customized new energy trucks from Kaixin over the next 5 years. The total value of the deal is $250 million.
• "This is another major breakthrough of Kaixin in the new energy vehicle business," said Kaixin CEO Mingjun Lin.
• Price Action: KXIN shares are trading higher by 15.6% at $1.63 in premarket on the last check Thursday.