The 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 being sold in the U.S., much to the dismay of American carmakers.
On July 29, Businesswire reported:
“Kandi brings America’s most affordable electric vehicles to market, announces August 18 virtual event to kick-off pre-sales. Auto manufacturer unveils “Kandi. Auto EVolution for all.” campaign and EV giveaway.#KNDI pic.twitter.com/5HocM2PTTi
— Nancy Thomas (@NancyTh75168003) August 3, 2020
Chinese Automaker Bringing Cheaper EVs To U.S.
Insider reported that the two cars are a tiny K27 and slightly larger K23, and they are set to each cost less than $30,000, making them much cheaper than the BEVs currently being sold in the U.S., which include 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 sell for $29,999. On top of that, Kandi has announced that it is discounting the first 1,000 preorders of each model, meaning the K23 will sell for $19,999 and the K27 will sell for $9,999.
Both the K27 and K23 are currently available for preorder with a $100 refundable deposit. Kandi America is based in the Dallas-Fort Worth area, which is where the initial sales will be focused. Kandi has said that deliveries will begin in the fourth quarter of this year.
The fact that this Chinese carmaker is gearing up to sell such cheap EVs stateside has to have put American automakers on notice. It remains to be seen if they will be able to compete with the Chinese automaker in the years ahead.
Joe Biden going to allow China to destroy the American auto industry. https://t.co/mnU9UI0t9K
— Mr. America (@ConservativesSo) September 7, 2023
Kandi America CEO Speaks Out
Earlier this week, Kandi America CEO Johnny Tai commented on Kandi’s growing presence in North America while he attended the Mid-States Rendezvous Trade Show.
“Our debut at the Mid-States Rendezvous was well-received by the merchants of this 700-store buying group,” he told Business Wire. “We impressed them with new product launches across a variety of categories such as electric UTV, electric mini-bikes, and electric bicycles. Those new products built 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 desired a great EV alongside all the other comforts of modern living. Kandi is changing that by revolutionizing the EV-buying experience for many,” Tai told Tech Crunch. “Kandi’s mission is to make electric cars accessible to all.”
Chinese electric vehicle and parts manufacturer Kandi Technologies Group is officially bringing two EVs to the United States through its subsidiary Kandi America — news that has prompted run up in its share price in the past day.
Kandi shares opened at $3.88 a share on Wed… pic.twitter.com/pfWZIq3vvS
— Prateek Raj (@_raj_prateek) July 31, 2020
Kandi’s Future Goals
This week, Olen Rice, the President of Kandi America subsidiary Northern Group, talked about the expanding retail presence of Kandi America.
“Our attractive product line is enabling us to penetrate a growing number of powerful distribution channels. Sales of our electric vehicles in a leading 1000+ unit home center chain is just the start,” he said. “We are also seeing double digit growth in the farm and home channel, on Amazon.com, and now with the Farm and Home Store channel.”
“Kandi is a recognized leader in all-electric personal transportation vehicles for work and recreation,” Rice continued. “Our tag line ‘Electric Innovation’ reflects our commitment to building a brand based on innovation, high quality, and value.”
This is going to destroy US auto manufacturers
Chinese automaker Kandi is bringing a $9,999 electric car to the US, slashing the entry price of EV ownership
— Wendy Patterson (@wendyp4545) September 7, 2023
A press release issued by the Chinese carmaker stated that “Kandi is competitive due to its wholly owned manufacturing facilities, innovative design, product development expertise, and reputation for quality.”
“Kandi expects these competitive advantages to drive further expansion in North America distribution across multiple product categories,” it added.
Clearly, Kandi intends to make some major moves when it comes to the American auto market. Only time will tell how that works out for them.
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