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September 19, 2013
10:57 EDTKNDIKandi jumps after detailing China's electric vehicle subsidies
Chinese electric vehicle maker Kandi Technologies (KNDI) is rallying after the company announced that the Chinese government had instituted new subsidies for electric vehicles. WHAT'S NEW: Under the plan, the Chinese government will provide about $9,800 in subsidies towards the purchase of all-electric passenger vehicles and about $81,700 in subsidies towards the purchase of electric buses, Kandi stated. The subsidy payments will be distributed to the manufacturers on a quarterly basis in advance and the subsidies will then be paid by the manufacturers directly to the consumers, Kandi added. "The pure electric vehicle is still the main focus in the policy, which will be very beneficial to a variety of Kandi's pure (electric vehicle) projects," said Kandi CEO Xiaoming Hu. TODAY'S PRICE ACTION: In mid-morning trading, KAndi jumped 90c, or 16.5%, to $6.40.
News For KNDI From The Last 14 Days
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November 24, 2015
09:17 EDTKNDIKandi announces initial direct sales of 1,000 model K10 units to Tianjin
Kandi Technologies announced that Kandi Electric Vehicles Group, a 50/50 joint venture between Kandi and Geely Automobile Holdings, has signed a direct sales contract with Tianjin Pang Da, a subsidiary of Pang Da Automobile Trade, for an initial order of 1,000 Kandi-brand model K10 pure electric vehicles. The delivery of the 1,000 EV units is expected to be completed by the end of 2015. Pang Da Company plans to launch an EV-sharing program with the purchased vehicles in Tianjin, Kandi said.

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