Kandi Technologies Group stock jumped more than 40 percent on Wednesday. by Goosen Wynand | Aug 2, 2020 | Newsletter | 0 Comments.

Based in Jinhua, China, Kandi has long expressed an interest in the U.S. market, purchasing Sportsman Country, a vehicle distributor based in Dallas last June. It introduced the cars in conjunction with Sportsman Country, a Texas-based ATV dealer/distributor it acquired in 2018. The automaker is looking to expand into the U.S. Xpeng Motors Pilots a EV Battery Leasing Option to Make its Electric Vehicles More Affordable, Toyota Launches its Vehicle Throttle Suppression System to Prevent Unintended Acceleration.

According to. Lucid Motors Plans to Open 20 Design Studios & Service Locations Throughout the U.S. China’s Electric Vehicle Startup NIO Takes Advantage of EV Market Upswing With New U.S. Share Sale, Audi & Qualcomm to Deploy Cellular Vehicle-to-Everything Technology on Virginia Roadways That Will Alert Drivers When Workers Are Present, A Cheaper Tesla Model 3 Hatchback is Reportedly Coming Next Year, General Motors CFO Unexpectedly Departs to Take Role at Online Payment Startup Stripe, Chinese Electric Vehicle Startup Xpeng Motors in Talks for Another $300 Million in New Funding, Sources Say, Uber CEO Says the Company Might Suspend its California Operations if a Court’s Decision Forcing it Classify Drivers as Full-time Employees is Not Overturned, Beijing-based Automaker Li Auto Raises $1.47 Billion in its U.S. IPO, Stock Soars Over 43%. @media only screen and (min-width: 981px) Kandi builds its electric vehicles in a joint venture with China's Geely, the parent company of Swedish automaker Volvo. Use wattEV2Buy’s proprietary tools to find the ideal EV for your requirements and determine the cost of charging EVs. In a press release via NASDAQ on which Kandi is listed Kandi announced that it would sell the two models in the USA via its wholly owned subsidiary SC Autosports, LLC – previously Sportsman Country the ATV distributor. Those who buy new Kandi K22 or EX3 models in 2020 will be eligible for a federal tax credit ranging up to $7,500. In 2019, the U.S. National Highway Traffic Safety Administration (NHTSA) approved Kandi to import its Model EX3 and Model K22 cars into the U.S. "We are very pleased that Kandi EV Models K22 and EX3 are qualifying for this U.S. federal tax credit again in 2020. padding-bottom: 0px !important;

The Kandi K22 has a 75-mile range and charges in five hours. According to Kandi's website, the list price of Kandi's K22 two-seater is $18,995, while Kandi's EX3, a sport utility vehicle, sells for $29,995. Top 5 EV News Week 31 2020 | Successful IPO for CHJ Auto, Kandi finally enters the USA, Mitsubishi pays the cost for failing EV strategy. .bgblack{ background:#000 !important;} Kandi builds its electric vehicles in a joint venture with China's Geely, the parent company of Swedish automaker Volvo. The other car Kandi sells in the US is the K22, which is also known in China as K12.There seems to be a range difference between them: the K22 goes a little further than the K12. In a press release, Kandi CEO Hu Xiaoming said, “We are thrilled Kandi Model EX3 and Model K22 received approval from the NHTSA. Kandi sells the EX3 in China as an electric version of Geely’s EX3 SUV, where it is available for less than $20,000 after incentives. The Kandi EX3 has a range of 188 miles and takes 7.5 hours to charge. Top 5 EV News Week 30 2020. by Goosen Wynand | Jul 26, 2020 | Newsletter | 0 Comments. With this, we are confident in introducing our reliable vehicles to the American public. padding-right: 0px !important; .et_pb_row { We have designed some cool tools to compare electric vehicles. It will very likely cost more in the U.S. Kandi announced last October that the cars would qualify for the $7,500 U.S. federal tax credit. The smiley K22 will have a targeted range of 75 miles from a 17.6-kilowatt-hour battery, with a charge time on a 240-volt, Level 2 charger, of 5 hours. U.S. President Donald Trump proposed ending the electric vehicle tax credit in his 2020 budget plan submitted to Congress on Monday. Tesla and General Motors have already hit that milestone. All Data and Content Management Powered by Ninox. Kandi America has updated its website with specs for the two affordable EVs - Kandi K27 and Kandi K23 - that are coming to the U.S. and now shows EPA estimated range results.

The approval has demonstrated our EV models meet all the necessary requirements and standards of the U.S. government. The company is one of few Chinese automakers, including, The tax credit was considered significant as the company's vehicles already sell for relatively low list prices. padding-left: 0px !important; We believe both the EX3 and K22 are competitive in price and quality with advanced tech features that are in demand by American consumers.”. He didn’t have any pricing information at the time about the EX3, which boasts a range of 188 miles (303 km) and seats five. Three new EV models launched this week. Top 5 EV News Week 32 2020 | Cadillac Lyriq unveiled. The company said it will now “begin the process of launching the Model EX3 and Model K22 for the American market.” No firm timeline is known at this point.

The Kandi K22 has a 75-mile range and charges in five hours. Copyright 2015 - 2020.

People buying the models this year will also be eligible; Kandi secured a tax credit for vehicles bought in 2019 last October. The company made its ambitions clear last year when it showed off new U.S. versions of the EVs in Texas. by Goosen Wynand | Jul 26, 2020 | Newsletter | 0 Comments, Top 5 EV News Week 30 2020 | Chengdu Auto Show, Hozon Neta IPO, VW invest in China, eVito Tourer for sale, wattEv2buy is a product of EV Genius LLC. China’s Kandi says it has received approval from the National Highway Traffic Safety Administration to import two of its electric cars to the U.S. Kandi intends on importing its Model EX3 and Model K22 to the U.S. According to the IRS website, as of now, K22 and EX3 are the only two EV models that are qualified for both the 2019 and 2020 federal tax credit," said Kandi's chairman and chief executive officer, Xiaoming Hu. Kandi unveiled both the EX3, an all-electric SUV, and the K22, a subcompact electric car, last year. by Goosen Wynand | Aug 3, 2020 | Newsletter | 0 Comments. The automaker is looking to expand into the U.S. with its affordable line of compact EVs. Yet another Chinese EV startup IPO. FTC: We use income earning auto affiliate links. Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast. The federal government offers tax credits in order to encourage the adoption of electric vehicles. } }. The company is one of few Chinese automakers, including NIO (NYSE: NIO), that list its shares on the U.S. stock market. {

Hu told Bloomberg in January that it will be priced at less than $20,000 in the U.S.

Kandi stock, which inched up about 1 percent on Monday to $7.36 per share, is up 103 percent year-to-date. Based in Jinhua, China, Kandi has long expressed an interest in the U.S. market, purchasing Sportsman Country, a vehicle distributor based in Dallas last June.

"We are currently in the process of preparing a detailed plan in advance of Kandi's debut of EV models in the American market," Hu added. A number of financial outlets, including CNBC, noted the swift rise of Kandi’s stock after the company announced NHTSA approval. Kandi formed a partnership with Sportsman in August to sell its K22 and EX3 models in the U.S. Kandi stock surged 40 percent in February after the U.S. Department of Transportation gave the green light to begin importing the K22 and EX3 into the United States. This tax credit begins phasing out once the automaker has sold 200,000 qualifying vehicles in the United States. Our tools include a mobile app, charging cost calculator and EV selector. It sports modest performance, ideal for city-dwellers. Chinese electric automaker Kandi Technologies Group Inc. (Nasdaq: KNDI) announced that the company's fully-electric K22 and EX3 models will be eligible for the U.S. federal EV tax credit of up to $7,500 beginning next year. } .et_pb_column_2 { More. Tips: phil@electrek.co, Tesla update increases range of existing vehicles, Tesla battery test results point to lasting 2M+ miles, Karma sets $80K price for all-electric Revero sedan, High power e-leaf blowers: 80V Greenworks vs. EGO 56V, You’re reading Electrek— experts who break news about, Electric Vehicle Price Guide – best prices for dealers in the US, China’s Kandi announces US approval to sell EX3 and K22 EVs, stock up 40%, Subscribe to Electrek on YouTube for exclusive videos. padding: 1% 0 0 0 !important; .txtwhite{color:#ffffff !important;} , the list price of Kandi's K22 two-seater is $18,995, while Kandi's EX3, a sport utility vehicle, sells for $29,995. The federal tax credit, therefore, amounts to a 40 percent discount on the K22 and a 25 percent discount on the EX3. Phil Dzikiy is an Editor/Writer with Electrek/9to5Mac.

Please check your email and enter the code! Hu told Bloomberg in January that it will be priced at less than $20,000 in the U.S. The K22 is a two-seater with an advertised range of 83 miles (134 km) and a top speed of 65 mph. The Kandi K22 is a cheerful Smart ED look-alike. The Kandi EX3 has a range of 188 miles and takes 7.5 hours to charge. Kandi Technologies Group unveiled its two-seater K22 and compact SUV the EX3 in Dallas Texas as it enters the US market. We hate spam just as much as you, so be assured we will only send you one email a week with real news. The tax credit was considered significant as the company's vehicles already sell for relatively low list prices. Japan’s Toyota Motor Corp & Hino to Develop a Class-8 Hydrogen Fuel Cell Electric Truck for North America, Tesla Co-founder Plans to Be the World's Top Battery Recycler With New Venture, Electric Truck Developer Einride Unveils its Next-Gen Autonomous Freight Vehicles, Hyundai Delivers the World’s First Mass-Produced Fuel Cell Trucks to Customers in Switzerland, Amazon’s New Fully-Electric Vans Represent the Future of Last-Mile Delivery, The Electric Polestar 2 Wins Germany’s Luxury Car of the Year Award, Silicon Valley Lidar Company Velodyne Signs 3 Year Supply Deal with China’s Baidu.