Kandi Technologies Group Inc. (NASDAQ: KNDI) Introduces Tiny Electric Car to US Market
Sep 1, 2020
Electric cars represent the next frontier of vehicular travel. They run on clean energy, have zero emissions, and are generally easy on the environment. Most developed countries plan to phase out internal combustion-engined vehicles in exchange for electric vehicles over the next decade, but one major hurdle they face is price. In June 2019, the average cost of an EV in the U.S. was $35,742, according to Kelly Blue Book. However, Americans may be able to purchase a new EV for much less after Chinese automaker Kandi Technologies Group Inc. (NASDAQ: KNDI) announced it would be entering the U.S. market with two low-cost EVs.
Kandi will debut with two models, the K27 and the K23, with the latter being the larger and more expensive version. The K27 will sell for as little as $10,000 to the first 1,000 customers thanks to a $7,500 tax credit which slashes the original $17,500 price tag by nearly half. After the 1,000 cars are sold, customers will buy the K27 for $19,800 or $12,400 after the tax credit. The K23 will be the larger…
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