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Kintyre Enters EV Market with Major Stake
Description
Kintyre Holdings is making waves by acquiring a 75% stake in a Jamaican EV dealership for up to $100 million, funded through new shares — a bold leap into Jamaica’s booming electric vehicle market. The deal kicks off a broader strategy to build service centers, stock parts, and launch showrooms featuring three Chinese models: the E-Light, E-Wind, and E3. While diluting existing shareholders’ stakes — share count jumped from 589M to nearly 1.9B — leadership argues it’s worth it for long-term growth. The venture operates under a new subsidiary, Affinity Ventures Group, with the automotive arm branded as Affinity Automotive Group, alongside a smaller Florida-based distribution stake. Kintyre’s move signals a strategic bet on EVs and sustainable transport as the future, aiming to secure an early Caribbean foothold.
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