AIHS - Senmiao Technology inks framework agreement to purchase and jointly promote electric vehicles for ride-sharing shares jumps 79%

BYD Auto Sales, a wholly owned subsidiary of BYD Company signed a framework agreement with Senmiao Technology ([[AIHS]] +79.2%) for the sale of BYD manufactured electric vehicles ((EV's)) to latter and jointly promote EV vehicles for utilization in China's ride-sharing or ride-hailing market.Under the agreement, AIHS has agreed to promote and give priority to BYD's EVs for its leasing customers utilizing the vehicles for the purposes of ride-sharing, while BYD will provide favorable pricing, financial support, charging station priority, marketing, and after-sales service.Under the terms of the agreement, Senmiao will provide an initial deposit and expects to purchase at least 5K vehicles from 2020 to 2021 to support expected ride-sharing growth.BYD is one of the largest manufacturers of automobiles, battery-powered bicycles, buses, trucks, forklifts, solar panels, rechargeable batteries, and most notably mobile-phone batteries."Our goal is to provide a wide range of financing and leasing options as we build out Senmiao's network throughout China, and

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Senmiao Technology inks framework agreement to purchase and jointly promote electric vehicles for ride-sharing, shares jumps 79%