Kaixin’s Electric Vehicle Bet Wins Major Customer as It Shifts Gears to Manufacturing

Shares in operator of used car dealerships surge after it wins a $500 million order for its new electric vehicle-making business Key takeaways: •      Kaixin said it won a $500 million order to sell 10,000 electric trucks to an automotive logistics company over the next five years •      The deal comes months after the struggling Kaixin expanded into electric vehicles by acquiring a manufacturer and changing ownership By Warren Yang Used car dealer Kaixin Auto Holdings (Nasdaq: KXIN) wants to reignite growth by powering into electric vehicle (EV) manufacturing. That…

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