Here is Why Kandi Technologies Continues to Move Up

The electric vehicle industry has well and truly taken off in the past half a decade or so and it is no longer Tesla, which is the only player in the fast-growing industry. One of the emerging players in the space is Kandi Technologies Group Inc (NASDAQ:KNDI) and on Wednesday, its stock soared after the company made a major announcement with regards to its business. 

$XTRM – Exclusive interview with Extreme Biodiesel Inc. a promising real estate business

Launch Of Two Of Its Vehicles In The U.S. Next Month

The electric car manufacturer announced yesterday that it is all set to launch two of its vehicles in the United States in August. That was a major announcement without a doubt and soon enough the stock soared as investors rushed in to acquire it. 

The Kandi shares rallied by as much as 140% on the back of the announcement and it will be interesting to see if it can add to its gains through the rest of the week. The announcement was made by the company’s United States subsidiary Kandi America yesterday afternoon. The company stated that the two models are going to be launched in the United States on August 18 in a virtual event. The Chief Executive Officer of the American subsidiary Johnny Tai stated that customers who are interested in those models will be able to make a refundable deposit of $100. 

$BRZL – Exclusive interview with Scepter Holdings Inc. a great Marketing Company

The two models are K23 and K27, which are smaller sized and affordable electric vehicles meant to be used as commuter vehicles in urban areas. The K27, which is a basic electric vehicle, is equipped with a 17.7-kilowatt-hour battery and is priced at $19,999. On the other hand, the fancier K23 is going to have a 41.4-kilowatt-hour battery and is going to be priced at $29,999. 

Both the quoted prices are ‘before incentives’. Since Kandi America has its headquarters in Garland, Texas, the company is going to focus its energies on the sales efforts in the cities of Dallas and Fort Worth. 

At this point in time, it is not quite easy to make out how automobile investors are going to react to this news. If the company manages to make a sale then it would be higher than anything it has done so far. However, it should also be noted that both the cars are perhaps priced a bit high when compared to the features on offer. For instance, offerings from Nissan and General Motors offer a higher range than the K23 and also have a higher quality of the build. 

$FHBC – The chairman of Fernhill Beverage lets us know why they entered a high-potential market

An individual can buy those cars for a few thousand dollars more. Hence, it remains to be seen if Americans are going to prefer a Kandi electric vehicle over that of the ones produced by General Motors or Nissan. Earlier on in the month, Kandi shares had rallied after the company announced that it had hit a ‘key milestone’ with regards to its all-electric Maple 60V vehicle.

Neither PSN nor its owners, members, officers, directors, partners, consultants, nor anyone involved in the publication of this website, is a registered investment adviser or broker-dealer or associated person with a registered investment adviser or broker-dealer and none of the foregoing make any recommendation that the purchase or sale of securities of any company profiled in the PSN website is suitable or advisable for any person or that an investment or transaction in such securities will be profitable. The information contained in the PSN website is not intended to be, and shall not constitute, an offer to sell nor the solicitation of any offer to buy any security. The information presented in the PSN website is provided for informational purposes only and is not to be treated as advice or a recommendation to make any specific investment. Please consult with an independent investment adviser and qualified investment professional before making an investment decision.

By PennyStocks.News was established to help ordinary investors make extraordinary gains in the stock market.