Senmiao Technology Announces Second Order of 500 Electric Vehicles Under Framework Agreement with BYD
Senmiao also expects to implement services and technology in these vehicles in preparation for ride-hailing activities, including advanced telematics and mapping software.
- Senmiao also expects to implement services and technology in these vehicles in preparation for ride-hailing activities, including advanced telematics and mapping software.
- The order was made pursuant to the previously announced framework agreement with BYD Auto Sales Co., Ltd. for the purchase of BYD manufactured EVs and joint promotion of the use of EVs in China's ride-hailing market.
- With this second order, Senmiao has ordered 1,000 of the anticipated 5,000 vehicles in 2020-21.
- Senmiao intends to finance the purchase of these vehicles through a combination of cash on hand along with financing made available to Senmiao through its collaboration with BYD.