Jul 31, 2020 - Energy & Climate

China's Kandi aims to provide the lowest-cost electric vehicle in the U.S. market

Ben Geman

Kandi Model K27. Image courtesy of Kandi America

Kandi America's Model K27, a small EV from the U.S. subsidiary of China's Kandi Technologies Group, is slated to begin limited U.S. delivery late this year.

Why it matters: The cost — Kandi says the K27 starts at $12,999 once you include the $7,500 federal tax credit and has an estimated 100-mile range.

The company says it will be the lowest-cost EV in the U.S. market, and I'm not aware of anything cheaper (readers, please LMK if I'm wrong).
A larger model with a bigger battery and an estimated 188-mile range, called the K23, starts at $22,499 when the federal incentive is included.

The intrigue: Kandi Technologies' stock surged this week — up 350% at one point, per Business Insider — after the company announced the launch.

The share price has come back down but remains about twice the level it started at this week.

What's next: Kandi said this week that it's holding a virtual launch on Aug. 18 to open reservations for the cars, which will initially be available in the Dallas area.

Add Axios on Google

China's Kandi aims to provide the lowest-cost electric vehicle in the U.S. market

What to read next