UK Finance news site fool.co.uk has highlighted the fact tht Chinese EV manufacturere Kandi Technologies’ stock has risen 23% since China renewed the financial incentives to promote clean vehicles.
The $9,800 subsidy for purchasing EVs – confirmed until 2015 – is one of the highest in the world, and the the money is being issued through the manufactures to pass on to the consumers, which supports cash-flow for development and production.
From the fool.co.uk website…
[Kandi] was a lightly traded stock until earlier this year when it announced its entry into the electric sedan market. Until that point, Kandi was a small company making mostly go-karts and ATVs in China’s Zhejiang province. It’s still small, generating $12.2 million in revenue in its latest quarter, only $2 million of which coming from the sale of electric vehicles. However, its plan to team up with Geely Automotive to produce electric cars turned heads when the partnership’s sedan was approved by China’s Ministry of Industry and Information Technology in June. A month later, Kandi announced the delivery of the first 100 Kandi-Geely vehicles for a public car-sharing system in Hangzhou City.”
“Kandi shares are trading 49% higher”
Read more about Kandi’s stock rises via finance news site www.fool.com
Visit Kandi’s English language site here: en.kandivehicle.com
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