Happy Motors today completed its acquisition of Morningstar Motors and entered the field of new energy vehicle manufacturing.

CTOnews.com, August 22 (Xinhua)-- Happy Motor (NASDAQ: KXIN) today announced the completion of its acquisition of Morningstar Motor Company ("Morningstar"). After delivery, Morningstar became a wholly owned subsidiary of Kaixin, marking the company's official entry into the field of new energy vehicle manufacturing.

Mr. Lin Mingjun, chairman and CEO of Kaixin, said: "the company has experienced a long process of transformation to the new energy vehicle business, and the successful completion of the Morningstar acquisition is an important milestone in the company's successful transformation."

CTOnews.com Note: happy Automobile Holdings, a retail platform for luxury used cars and imported new cars in China, entered retail of used cars in 2017 and listed on Nasdaq in 2019. It is engaged in the research, development, design, manufacture and sales of electric vehicles and promotes the innovation of the next generation of self-driving and artificial intelligence technologies.