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What Goes Up: U.S. Arm of Bargain-basement Chinese EV Maker Fails to Impress Wall Street
Interested in a new electric vehicle with an after-tax credit price of $9,999? What about a larger model stickering for $19,999? Hmmm… doesn’t seem to be that many of you.
You can be forgiven for not knowing about Kandi America, the U.S. subsidiary of Kandi Technologies Group — a Chinese battery and electric vehicle manufacturer. Earlier this week, Kandi revealed two models it plans to bring to America in the hopes of cleaning up at the low end of the EV market. Having seen its share price skyrocket after announcing a U.S. market entry last month, the company’s stock fell back to earth when Wall Street gauged the public’s enthusiasm.
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