With a top speed of 100 km/h (62 mph) it is legal on American highways, but has been designed for city transport. Additional values such as state rebates apply as well! Most affordable electric vehicle in the U.S. A compact car with room for 4. In 2018, Kandi transitioned into longer-range electric vehicles with the K23 and EX3 models. K23's production started at the Hainan facility on March 28, 2018. As of 11 a.m. CT this morning, merely 24 hours after the live virtual launch, Kandi America has received 436 pre-order reservations for the newly launched models, and the number is expected to increase further based on the level of interest received from consumers wanting to own a Kandi EV.”. Jiangsu Development and Reform Commission approved Kandi with 1 of 3 EV manufacturing licenses. [13] Sportsman Country will facilitate the dealer relationships for Kandi's EX3 electric vehicles. The system operates only with Kandi EV all-electric cars, which are available to customers in automated garages that run like vending machines. [2], In February 2013, Kandi and Geely subsidiary Shanghai Maple announced the establishment of a 50:50 electric vehicle joint venture, Zhejiang Kandi Electric Vehicles Investment, with an initial registered capital of 1 billion yuan (US$160 million). This model is slated to spread to other cities and regions like Shanghai, Shandong, and Hainan. Its 41.4 kWh battery give it a top range of 302 km (188 miles). SAIC Motor Corporation Limited (SAIC, formerly Shanghai Automotive Industry Corporation) is a Chinese state-owned automotive design and manufacturing company headquartered in Shanghai, with multinational operations. Chinese government choose not to issue subsidies to Kandi in 2015, while its 3rd 2015 subsidy payment completed on April 21, 2017. (adsbygoogle = window.adsbygoogle || []).push({}); Kandi already has some success in the booming electric vehicle space in China, but it wants to be the first Chinese automaker to replicate that success in North America. [23] Currently, Kandi’s main focus is electric cars and related parts. [29], In 2019, Kandi Technologies signed a non-binding framework with a ride-sharing alliance to provide 300,000 EVs within 5 years. The China Association of Automobile Manufacturers (CAAM) reported the sale of 16,376 Kandi EVs in 2015. Jinhua An Kao currently has 22 patents that have either been accepted by the PRC State Intellectual Property Offices for application or are currently in the application process. Chinese EV maker Kandi announced today that it is actively looking to build an electric car factory in North America. Kandi has partnered up with Geely to sell EVs under the Gleagle brand. Kandi says that deliveries are going to start in Q4 in the US. The Company cautioned that the exploration process is in its early stage and any negotiations would not guarantee a North American plant will be built.”. Over the near term, we are confident we can meet the growing North American demand with our existing manufacturing facilities in China. [14] EVs qualify for subsidies offered by China's central and local governments, on an average of $10,000 per vehicle. Kandi Technologies Group, Inc. is a Chinese battery and electric vehicle manufacturer. Its 17.69 kWh Lithium battery gives it a top range is 161 km (100 miles). Kandi acquired Sportsman Country LLC for $10 million in June 2018. It is being marketed as the least expensive EV available in the US. Additionally, Jinhua An Kao owns three invention patents and 14 utility model patents relating to plug-in and soft-connection PACK technology.[11]. In Kandi's case, its Nasdaq-listed shares tumbled nearly 30% on the day of the report's release. [21][22], The K27 is a minimal compact 4 door BEV that seats 4. The company shipped 50–100 EVs to USA at end of May/early June 2019. The EX3 debuted on November 1, 2017 as Kandi's first SUV. Kandi zelmer. The company selling the cheapest new car in the U.S. would sell cars to itself to fake results. [27], 2018 sales were projected to focus exclusively on the EX3 SUV with a range of 380 km (236 Miles). KNDI Stock Summary Of note is the ratio of Kandi Technologies Group Inc's sales and general administrative expense to its total operating expenses; 99.59% of US stocks have a lower such ratio. The Kandi public EV CarShare concept is based on Hangzhou's bikeshare, the largest bikeshare in the world and the first of its kind in China.