Kaixin Auto Bags $600 Mln Order From Shencheng To Supply Electric Trucks

(RTTNews) - Kaixin Auto Holdings (KXIN), a Chinese auto retail platform, said on Tuesday that it has signed a $600 million sales order with Beijing Shencheng Biotechnology Group Limited to supply 10,000 electric trucks.

The trucks, expected to be supplied during period from 2023 to 2025, will be used in Shencheng's waste recycling business.

Wu Liang, General Manager of Kaixin's New Energy Vehicle Business Department, said: "…Although China's electric trucks are currently in their early stage, we expect the peak sales season will come soon. Kaixin will stride forward and enhance market recognition with sales performance."

Shencheng, a biotechnology firm in China is specialized in urban waste sorting and recycling business.

It has set up plans to carry out waste treatment business operations in Xinjiang, Guizhou, Guangxi, and Yunnan provinces.