AIHS - Senmiao Technology +5% on third order of 200 EVs with BYD

Senmiao Technology ([[AIHS]] +1.9%) orders another 200 electric vehicles (or EVs) manufactured by BYD Company from an authorized dealer of BYD Auto Sales, which is a wholly-owned subsidiary of BYD.The first batch of 100 automobiles is expected to be delivered to the Chengdu office of Senmiao during the first week of March 2021.Since launching its proprietary ride-hailing platform in Q4 2020, Senmiao has seen large demand for EVs in financial leasing and operating leasing segments of the online ride-hailing industry in China.With this third order, the company has ordered an aggregate of 1,200 of the 5,000 vehicles expected to be ordered in 2020-2021.Company intends to finance the purchase of these 200 vehicles with cash on hand.

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Senmiao Technology +5% on third order of 200 EVs with BYD