Kandi launches two affordable EVs in the US

Kandi America, the US subsidiary of Kandi Technologies Group, Inc., rolled out America’s most affordable EVs – models K23 and K27. Kandi America has received 436 pre-order reservations for the newly launched models within 24 hours. The number is expected to increase further.

Kandi has partnered with Wrench, which provides a mobile vehicle maintenance and repair service to Kandi EV drivers that is typically reserved for luxury vehicle owners. In addition, Northpoint Commercial Finance will support Kandi dealer partners with inventory financing.

Kandi is offering a special promotion for the first 1,000 pre-orders for each model. Originally priced at $19,999 MSRP, the K27 is now listed as $17,499. The K23 is discounted from $29,999 MSRP to $27,499. With the $7,500 federal tax credit, this brings the prices down to just $9,999 and $19,999 respectively for eligible buyers. Pre-orders can be made after paying a fully-refundable $100 deposit. The vehicles will be available for delivery starting in the fourth quarter of 2020.

The company is also actively exploring the possibility of opening a manufacturing base in North America for its EVs and off-road vehicles. Kandi plans to more aggressively target the fast-growing North America market and ensure affordability by eliminating shipping costs and tariffs. It is in preliminary discussion with various potential partners, including local government agencies from the US-Mexico border, and has received positive feedback. The exploration process is in its early stage and it is not guarantee a North American plant will be built.

Kandi Chairman and Chief Executive Officer Hu Xiaoming, said: “We have achieved initial success with our strategic decision to expand to the US electric vehicle market. Over the near term, we are confident we can meet the growing North American demand with our existing manufacturing facilities in China. Longer term, however, we are actively exploring the possibility of manufacturing EVs and off the road vehicles locally, as we plan to more aggressively target the fast growing North American market.”