Kaixin Auto Holdings (NASDAQ: KXIN) Entering into a Partnership with Leading Chinese Recreational Vehicle (RV) Retailer

It is a known fact that the Recreational Vehicle (RV) market is growing leaps and bounds in China. Just like making hay while the sun shines, Kaixin Auto Holdings (NASDAQ: KXIN), known as KXIN in the NASDAQ, has recently made an official announcement that it is holding negotiations with one of the leading Chinese RV retailers. The agenda behind the two corporates coming together across the table is exploring opportunities to enter into a Joint Venture (JV) to make the best of the RV market that is expanding at a rather fast pace in China. 

Sources familiar with the recent developments went on record and shared that the leading RV retailer has a pan-China footprint. The leading RV retailer also boasts of having its dealerships besides hosting a leading RV owner community website. 

The timing of announcing the news is something that has caught the attention of several industry experts. This comes in the backdrop of an increase in the annual sales volume of RV vehicles in the Chinese market. It may be noted that the year-on-year sales of RV vehicles witnessed a whopping 50% growth in the last three years alone if numbers are to be believed, more than 69,000 RV vehicles sold in the year 2020 alone. These numbers encourage the respective company and the RV retailer to come together and make the best of exploring business opportunities in the development, production, renting, and selling of electric RV vehicles in the Chinese market. 

Kaixin Auto Holdings is counted as one of the reputed dealership networks in sales of new cars and the high-end second-hand car segment. The company boasts of a strong offline and online presence. Over the years, Kaixin Auto Holdings has grown as a company multi-fold. It has grown from being recognized as a technology-enabled financing platform into a dealer with a national presence in China. 

News about the recent possible joint venture announcement has brought a lot of cheer among the people who hold the KXIN (Kaixin Auto) shares. Following this news, the stock value jumped to more than 5%.

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