Kandi America CEO Johnny Ta echoed those sentiments. Kandi said its compact K27 model starts at $12,999 after federal tax credits, while the larger K23 model, about the size of a small SUV, starts at $22,499 after federal tax credits.
Kandi America, the USA subsidiary of Chinese electric vehicle manufacturer Kandi Technologies Group, Inc., announced that it's entering the US market with the most affordable EVs.
While the K27 is intended primarily for commuters, the futuristically designed K23 is larger and is also meant to offer a higher load volume.
What's next: Kandi said this week that it's holding a virtual launch on August 18 to open reservations for the cars, which will initially be available in the Dallas area. It's a pre-sale kickoff, and customers can place a $100 deposit down for one of the new cars, which will be available delivery by year end. Chinese company Kandi is set to bring two models stateside that will become the cheapest electric vehicles on the USA market, with both slated for delivery before the year is out. But, he says, "owning the "it" auto often eluded consumers who desired a great EV alongside all the other comforts of modern living".
The company says the number of EVs on the road is growing and wants to help meet the demand. 63 percent of millennials would consider purchasing an electric vehicle. Kandi changes that and revolutionizes the EV-buying experience for many. Kandi aims to make reliable EVs affordable to anyone, "regardless of their financial status". Both are priced under $30,000 before federal incentives.
The two models heading to the US are Kandi's compact K27 vehicle that comes with a 17.69 kWh battery and a range of up to 100 miles, according to the automaker (although it's unclear if these are EPA estimates or another standard).
"This is an exciting time for Kandi Technologies as we successfully roll-out the sales of the K27 and K23 in the United States", said Kewa Luo, Investor Relations Director of Kandi Technologies Group. With 180 miles (290 kilometers) the range is higher, the battery with 41.4 kWh is larger.
The target is middle class US consumers.
Kandi shares opened at $3.88 a share on Wednesday, jumping to $16.51 today. Shares have now settled below $9.
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