In a strategic move that reverberates across the rapidly evolving landscape of the Chinese electric vehicle market, Kaixin Auto Holdings recently unveiled a groundbreaking collaboration with DeepBlue Artificial Intelligence Technology Company. This ambitious venture aims to fuse DeepBlue’s cutting-edge AI autonomous driving technology with Kaixin’s mass-produced electric vehicle (EV) models, ushering in a new era of AI autopilot EVs and charting a course toward market-oriented operations.
The announcement of partnership with DeepBlue AI sent ripples through the financial realm, prompting a minor surge in Kaixin Auto Holdings’ stock value. The opening bell witnessed the stock kick off at $0.76, a subtle uptick from the previous day’s close at $0.74. However, as the trading day unfolded, an unexpected turn of events saw the stock facing a decline.
At the time of this publication, Kaixin Auto Holdings stock (KXIN) has witnessed a decline.
Kaixin Auto Holdings
Current Price: $0.32
Change : -0.41
Change (%): (-56.59%)
Volume: 12.1M
Source: Tomorrow Events Market Data
DeepBlue AI Technology, founded in 2014 by a cadre of senior engineers with overseas doctoral degrees, stands as a beacon in the realm of artificial intelligence. Its commitment to fundamental research and application of AI is underscored by the presence of the DeepBlue Academy of Sciences, comprising multiple research institutes that have clinched over 50 world championships and 120 top-three awards in computer science and AI-related competitions.
The diversified portfolio of DeepBlue AI Technology spans across intelligent driving, smart vehicles, intelligent robots, industrial intelligence, smart cities, and silicon-based knowledge large models. Acknowledged as a national-level specialized and emerging giant enterprise, DeepBlue found itself listed in the coveted “Global 500 Artificial Intelligence Unicorns” for two consecutive years and the “Hurun Global 500 Unicorns” in 2023.
Mr. Mingjun Lin, Chairman and CEO of Kaixin Auto Holdings, sees the collaboration as a pivotal step toward embracing the future of AI-driven vehicles. In his words, “AI vehicles are the future trend. Kaixin’s transformation into the new energy vehicles business involves not only hardware upgrades but also improvements in software.” Lin is optimistic about the infusion of DeepBlue’s autonomous driving technology, expressing confidence that it will catalyze Kaixin’s foray into the AI vehicle development arena.
Lin envisions the collaboration playing a crucial role in the creation of intelligent, safe, and efficient car travel products and services. As Kaixin navigates the complexities of the EV market, the integration of DeepBlue’s expertise might prove to be the differential factor in propelling Kaixin’s ambitions to the forefront of the burgeoning AI-driven automotive industry.
The recent fluctuations in Kaixin’s stock price indicate that investors are closely scrutinizing the unfolding narrative of this partnership, eager to gauge the potential impact on the company’s trajectory in the competitive EV landscape. As the collaboration progresses, market observers will undoubtedly be on the edge of their seats, awaiting further developments and insights into the strategic maneuvers of Kaixin Auto Holdings in the dynamic realm of new energy vehicles.
