Kaixin Auto announces non-binding acquisition term sheet with WM Motor
WM Motor owns and operates two Industry 4.0 intelligent manufacturing factories in Wenzhou, China, and Huanggang, China, respectively
In a press release announcement on September 11, Kaixin Auto said that the company has signed a non-binding acquisition term sheet with WM Motor Holdings, planning to issue a certain number of new shares to acquire 100% of equity of WM Motor held by its current shareholders.
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