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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.

Go deeper

Felix Salmon, author of Capital
1 hour ago - Economy & Business

Meme stonks lose their appeal to the world of crypto

Data: Cardify; Chart: Axios Visuals

That sucking sound you hear is the outflow of meme-chasing dollars from the stock market.

Why it matters: The caravan has moved on. The dream of getting rich quick still lives, but today it's more often found in the world of crypto, NFTs or even sports betting than it is in the stock market.

Latinas who brew seek to shake craft beer industry

A server at Mujeres Brew House in San Diego rings up a customer in front of a selection of craft beers. Photo: Russell Contreras/Axios

Independent craft brewers are popping up in cities across the country, and a small but growing number of them are Latina-owned or run by a Latina head brewer.

The big picture: Latinas are opening up independent craft breweries from California to Colorado as Latina-owned small businesses continue to be one of the fastest-growing segments of the economy despite a lack of venture capital.

2 hours ago - Sports

China pulls Celtics games after Enes Kanter criticizes Xi Jinping

Celtics center Enes Kanter. Photo: Jim Michaud/MediaNews Group/Boston Herald via Getty Images

China will no longer stream Boston Celtics games after center Enes Kanter called Chinese President Xi Jinping a "brutal dictator" in a social media post over the Chinese government's repressive policies in Tibet, according to the New York Times.

Why it matters: Kanter's criticism of Beijing has sparked another round of trouble for the NBA in China, one of its largest and most restrictive markets.