Established in 2015 and based in Beijing, People's Republic of China, Kaixin Auto Holdings underwent a reverse merger acquisition by Haitaoche Limited (Cayman) on June 25, 2021. Prior to this strategic transaction, the company primarily operated as a dealer of pre-owned vehicles throughout the People's Republic of China, managing a network of 14 dealerships as of December 31, 2020. Beyond vehicle sales, Kaixin Auto also facilitated customer access to financing options through its collaborations with various financial institutions.