China’s Kandi Launching Cheap Electric Vehicles in the U.S.

Huge companies like Tesla may come to mind when talking about electric vehicles. However, a new Chinese competitor Kandi Technologies has recently taken the stock market by storm.

As reported by Business Insider, shares for Kandi Technologies have risen by nearly 350% following their announcement. The company revealed that they would launch two electric vehicles (the K27 and K23 models) throughout the United States in August, which can then be delivered by the end of the year.

CEO of Kandi Technologies in America made a statement:

“Electric vehicles have been valued for years for their efficiency, sustainability and innovation. However, owning the ‘it’ car often eluded consumers who desired a great EV alongside all the other comforts of modern living. Kandi changes that and revolutionizes the EV-buying experience for many.”

One of the reasons Kandi Technologies is growing so quickly is their vehicles’ affordability. The K27 model starts from $12,999 USD after a federal tax credit, while the bigger K37 model starts at $22,499 USD. These prices are comparatively cheaper compared to Model 3, which is Tesla’s most affordable vehicle at $37,990 USD before gas savings incentives.

These Chinese EVs look to target the low end of the spectrum and it remains unclear how well the fit, finish and safety of these vehicles will be, compared to other established domestic and import brands.

It is hard to say whether or not Kandi Technologies could become a leading car brand, at least not until the vehicles are officially released. With that being said, we should definitely keep a close eye on Kandi Technologies and their future projects.