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Kandi Technologies’ shares have risen 350% since Tuesday’s close, driven by the Chinese vehicle manufacturer’s announcement of launching two cars in the United States next month.
On Wednesday, Kandi America, the Chinese company’s U.S. subsidiary, which competes with Tesla and Nio, said consumers would deposit full refund deposits of $100 for two of their vehicles, the K27 and K23, starting in August. 18.
“Electric cars have been valued for years for their efficiency, durability and innovation. However, owning the car ‘that’ eluded consumers looking for an electric vehicle right along with all the other comforts of fashion life, Johnny Tai, ceo of Kandi America, said in a statement. “Kandi is turning that and revolutionizing the electric vehicle that buys groceries for many.”
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Kandi cars charge much less than Tesla styles. Kandi said his compact K27 style starts at $12,999 after federal tax credits, while the larger K23 style, the length of a small SUV, starts at $22,499 after federal tax credits.
Tesla’s Model 3, your cheapest vehicle, starts at $31,690, savings from tax credits, according to the company’s website.
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Market Insider