Chinese automaker Kandi Technologies Group has announced that it is bringing two electric vehicles to the U.S. market that are each much cheaper than any other BEV sold in the U.S., much to the dismay of U.S. automakers.
On July 29, Businesswire reported:
“Kandi brings America’s most affordable electric vehicles to market and announces August 18 virtual event to kick off pre-sales. Automaker unveils “Kandi. Auto EVolution for all.” campaign and EV giveaway.#KNDI pic.twitter.com/5HocM2PTTi— Nancy Thomas (@NancyTh75168003) August 3, 2020
Chinese automaker brings cheaper electric vehicles to the US
Insider reported that the two cars are a small K27 and a slightly larger K23, and that they will each cost less than $30,000, making them much cheaper than the BEVs currently sold in the US, including the Nissan Leaf, the Chevrolet Bolt, the Hyundai Kona Electric and the Tesla Model 3.
The K27 will retail for $19,999, and the K23 will retail for $29,999. Additionally, Kandi has announced that it is discounting the first 1,000 pre-orders of each model, meaning the K23 will retail for $19,999 and the K27 for $9,999.
Both the K27 and K23 are currently available for pre-order with a $100 refundable deposit. Kandi America is based in the Dallas-Fort Worth area, where initial sales will be concentrated. Kandi has said that deliveries will begin in the fourth quarter of this year.
The fact that this Chinese automaker is gearing up to sell such cheap EVs in the United States must have put American automakers on notice. It remains to be seen whether they will be able to compete with the Chinese automaker in the coming years.
Joe Biden is going to allow China to destroy the American auto industry. https://t.co/mnU9UI0t9K
— Mr. America (@ConservativesSo) September 7, 2023
Related: Georgia subsidized electric vehicle company Rivian with $1.5 billion
CEO of Kandi America speaks out
Earlier this week, Kandi America CEO Johnny Tai commented on Kandi’s growing presence in North America while attending the Mid-States Rendezvous Trade Show.
“Our debut on the Middle states rendezvous was well received by the salespeople of this 700-store buying group,” he told Business Wire. “We have impressed them with new product launches across categories such as electric UTV, electric mini bikes and electric bicycles. These new products build on the popularity of our wide range of electric golf carts.”
Tai previously addressed Kandi’s goal of selling cheaper electric vehicles in a 2020 interview.
“Electric vehicles have been valued for years for their efficiency, sustainability and innovation. However, owning the ‘it’ car often eluded consumers who wanted a great electric car in addition to all the other conveniences of modern life. Kandi is changing that by revolutionizing the EV purchasing experience for many,” Tai told Tech Crunch. “Kandi’s mission is to make electric cars accessible to everyone.”
Chinese electric vehicle and parts manufacturer Kandi Technologies Group is officially bringing two electric vehicles to the United States through its subsidiary Kandi America – news that has led to a surge in its stock price over the past day.
Kandi stock opened at $3.88 per share on Wednesday… pic.twitter.com/pfWZIq3vvS
— Prateek Raj (@_raj_prateek) July 31, 2020
Related: Forcing Consumers to Buy Electric Vehicles: A New Low for the Biden Administration
Kandi’s future goals
This week, Olen Rice, the president of Kandi America subsidiary Northern Group, spoke about Kandi America’s growing retail presence.
“Our attractive product line allows us to penetrate a growing number of powerful distribution channels. Selling our electric vehicles in a leading home center chain with more than 1,000 units is just the beginning,” he said. “We are also seeing double-digit growth in the Farm and Home channel, on Amazon.com, and now in the Farm and Home Store channel.”
“Kandi is a recognized leader in all-electric passenger transportation vehicles for work and recreation,” Rice continued. “Our tagline ‘Electric Innovation’ reflects our commitment to building a brand based on innovation, high quality and value.”
This is going to destroy America’s automakers
Chinese automaker Kandi is bringing a $9,999 electric car to the US, lowering the entry price of EV ownership
Credit: @miaculpepper2 https://t.co/o5tA4C4g5x
— Wendy Patterson (@wendyp4545) September 7, 2023
A press release from the Chinese automaker states that “Kandi is competitive because of its full production facilities, innovative design, product development expertise and reputation for quality.”
“Kandi expects these competitive advantages to drive further expansion of North American distribution across multiple product categories,” it added.
It’s clear that Kandi is planning to make some big moves when it comes to the US car market. Only time will tell how that works out for them.
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