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Kandi +3.1%; 700 EVs delivered to Guangzhou

Dec. 18, 2014 9:43 AM ETKandi Technologies Group, Inc. (KNDI) StockBy: Eric Jhonsa, SA News Editor
  • Kandi's (NASDAQ:KNDI) EV JV has delivered 700 EVs to an auto distributor in the city of Guangzhou. The sale will produce revenue of RMB90.2M ($14.5M); that implies an ASP of $21.4K. Buyers will have access to matching national and local government subsidies.
  • Yesterday, Kandi announced the delivery of 1K EVs to Chengdu. For reference, the EV JV sold 1,950 "EV products" in Q3, and had 4,114 EV sales in Q2. A 10% purchase tax exemption went into effect in September.

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