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Kandi Technologies soars again; EV vending machine hype grows

  • Kandi Technologies (KNDI +12.5%) is now up 59% from its Dec. 20 close. Shares have rallied thanks to a deal struck by a 50%-owned Kandi JV to assume full control of an EV company from Chinese automaker Geely, and growing enthusiasm about a project to offer EV rentals in Chinese cities via giant automated vending machines.
  • Kandi has set up two vending machines in the Chinese city of Huangzhou (pop. 8.7M); each offers EV car rentals for a price of $3.25/hour. Kandi plans to eventually offer 100K cars available to Huangzhou residents via 750 facilities, and to also expand to Beijing, Shanghai, and other cities.
  • No one will confuse Kandi's EVs with a Tesla Model S: The tiny cars have a maximum range of 75 miles, and a top speed of 50 mph. Kandi is counting on the convenience and cost savings it provides to urban Chinese consumers who don't need a car full-time to drive rental growth, and government interest in curbing pollution to yield continued state support.
Comments (2)
  • Cassina Tarsia
    , contributor
    Comments (641) | Send Message
     
    I would not say that Kandi's EVs cannot be compared to the Tesla's Model S - each one fills the need for which they were built, and in that way they are the same. And then, if you watch the market right now Kandi is poised to break out just like Tesla did earlier this year ... 2014 may be the year for Kandi! It is time for EVs to come of age!
    30 Dec 2013, 01:28 PM Reply Like
  • tgar13
    , contributor
    Comments (193) | Send Message
     
    I question "hype" as the appropriate word to
    Use given Goldman Sachs rated Geely
    A buy based mostly on short term outlook
    Of the Joint Venture...why buy Geely when you
    Can buy the other partner who is more
    Highly leveraged to the Joint Venture
    Kandi

     

    Perhaps EV Vending Machine Excitement
    30 Dec 2013, 02:59 PM Reply Like
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