06:38 AM EDT, 07/08/2024 (MT Newswires) -- Uxin ( UXIN ) said Monday it will enter a joint venture with Zhengzhou Airport Automobile Industry to build a new used-car store in Zhengzhou.

Uxin ( UXIN ) will contribute 120 million Chinese renminbi ($16.5 million) through its industrial investment business and Zhengzhou Airport Industry will contribute 50 million renminbi to establish Uxin Zhengzhou Intelligent Remanufacturing, according to Uxin ( UXIN ).

The contributions represent 70% and 30%, respectively, of the joint venture's total registered capital, Uxin ( UXIN ) said.

Shares of Uxin ( UXIN ) were up 10% in recent Monday premarket activity.

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