24/7 Market News Snapshot 03 December, 2024 – Uxin Limited ADS (NASDAQ:UXIN)
DENVER, Colo., 03 December, 2024 (247marketnews.com) – (NASDAQ:UXIN) are discussed in this article.
Uxin Limited is experiencing a significant surge in market activity, with its American Depositary Shares (ADS) climbing to a high of $5.135, reflecting a 21.68% increase from the previous day’s close of $4.22. The stock opened at $4.19 and has recorded a trading volume of 515.63K, indicating robust investor interest and renewed optimism surrounding this leader in the used car retail sector.
In a groundbreaking move, Uxin is also forging a partnership with Times Electric Service, a subsidiary of Contemporary Amperex Technology Co., Limited (CATL). This strategic collaboration aims to revolutionize the pre-owned new energy vehicle market by introducing advanced battery swapping models, thereby enhancing transaction services and creating a comprehensive ecosystem for consumers. Uxin’s expertise in vehicle inspection, acquisition, and after-sales support will play a pivotal role in this initiative.
The partnership focuses on developing an innovative used car trading system based on a “vehicle-battery separation” model, which is expected to diversify offerings in the used energy vehicle market and streamline the purchasing process for consumers. An online platform dedicated to trading used cars and a specialized battery marketplace will be part of this initiative, alongside rigorous inspection, certification, and rating services for vehicles equipped with battery swapping technology.
Mr. Kun Dai, Founder, Chairman, and CEO of Uxin, expressed his enthusiasm regarding this collaboration, emphasizing the commitment to innovation and transparency in meeting consumer needs while delivering long-term value. This partnership signifies a strategic advance in Uxin’s mission to transform the used car industry and promote sustainable solutions for consumers, positioning the company at the forefront of the rapidly evolving automotive landscape.