Can Micro-Transport Be A Major Driver For Kandi Technologies?
Stephen Simpson, CFA • 59 Comments
Stephen Simpson, CFA • 59 Comments
Mon, Jul. 25, 9:08 AM
- Kandi Technologies Group (NASDAQ:KNDI) announces its 50-50 joint venture with Geely Automobile Holdings signed a framework sales agreement with Pang Da Automobile Trade Co. to sell electric vehicles in a program aimed at college campuses.
- Pang Da anticipates purchasing at least 60K EVs from the JV in the next four years for its time-sharing campus EV lease program.
- "In response to the national policy promoting the adoption of renewable energy vehicles, Pang Da has been actively working on expanding its Green Campus Drive Electric Campaign this year,” says Pang Da's Chang Ye.
- Source: Press Release
Thu, Jul. 21, 9:15 AM
Thu, Jul. 14, 12:03 PM
Thu, Jul. 14, 9:56 AM
- Kandi Technologies Group (KNDI +3.7%) says its JV achieved strong sales results in pure electric vehicles (“EVs”) in Q2 and expects to exceed its previously announced sales forecast of 5,500 to 6,000 EV products by approximately 10%.
- CEO Hu Xiaoming says the JV company’s EV sales tally is a strong indicator of market demand and customer satisfaction.
- Source: Press Release
Thu, Jul. 14, 9:15 AM
Mon, Jun. 13, 6:39 PM
- Deliveries in China rose 11% Y/Y in May to 1.79M units, according to the China Association of Automobile Manufacturers. Total deliveries including commercial vehicles were up 10% to around 2M units.
- SUV demand was strong again, with deliveries up 36% during the month to 627K units.
- Dealer inventory fell to an average of 1.54 months from 1.55, but still stands above the 1.50 mark which is considered the beginning of a high level of inventory.
- The May tally is considered significant coming on the heels of the Beijing Auto Show in April when some new models were introduced.
- Previous on China May auto sales: Ford, GM, Mercedes-Benz.
- Related automaker stocks: OTC:CQCAF, OTCPK:GWLLF, OTCPK:GWLLY, OTCPK:GELYF, OTCPK:GELYY, OTCPK:BYDDY, OTCPK:BYDDF, KNDI, OTCPK:DNFGY, OTCPK:DNFGF, OTCPK:DDAIF, OTCPK:VLKAY, OTCPK:BAMXY.
Tue, May 10, 3:37 PM
- Kandi Technologies (KNDI -4.8%) issues a corrected Q1 statement.
- The company says it missed listing several categories on the balance sheet including "Amount due from JV Company," "Land use rights," and "Construction in progress." The "Due from related party" line was missing from the cash flow statement.
- Previously: Kandi Technologies expected to correct Q1 statement (May 10)
- Updated Kandi Q1 statement
Tue, May 10, 2:13 PM
- There's a major development surrounding Kandi Technologies (NASDAQ:KNDI) with the company confirming to Bloomberg that it plans to issue a corrected Q1 report.
- Earlier today, Twitter handle @unemon (SA contributor Unemon1) alleged that the company lost track of $34.78M from its published cash flow statement. A little work with a calculator seems to confirm the discrepancy.
- Shares of Kandi are down 7.2% and sit at a session low.
- Previously: Notable earnings before Wednesday’s open (May 10)
Tue, May 10, 1:56 PM
- Kandi Technologies Group (NASDAQ:KNDI) peels off 4.4% after reporting Q1 earnings.
- The company says it expects to deliver 5.5K-6.0K EV vehicles in Q2 and at least 35K EVs (10K from micro program and 25K direct sales) for the full year.
- Revenue guidance for the full year was set at $270M to $300M.
- Previously: Kandi Technologies reports Q1 results (May 10)
Tue, May 10, 7:30 AM
- Automobile sales in China rose 6.4% to 1.72M units in April, according to the China Passenger Car Association.
- Sales of SUVs were up 36% during the month to help make up for a drop in passenger car sales.
- Dealers offered discounts of 18% to help clear inventory, according to an estimate from Bank of America Merrill Lynch.
- YTD deliveries in China are up 6.7% to 7.36M units.
- Related automaker stocks: OTC:CQCAF, OTCPK:GWLLF, OTCPK:GWLLY, OTCPK:GELYF, OTCPK:GELYY, OTCPK:BYDDY, OTCPK:BYDDF, KNDI, OTCPK:DNFGY, OTCPK:DNFGF, OTCPK:DDAIF, OTCPK:VLKAY, OTCPK:BAMXY, GM.
Tue, May 10, 7:10 AM
Sat, Apr. 23, 9:54 AM
- Automobile industry heavyweights are gathered in Beijing ahead of next week's major auto show. Many of the side interviews with exec are as revealing as the model reveals.
- Ford (NYSE:F) CEO Mark Fields is on the scene. He has already tipped to reporters that the automaker isn't interested in a merger with Fiat Chrysler Automobiles (NYSE:FCAU). Last week, Fiat CEO Sergio Marchionne teed up Toyota (NYSE:TM), Volkswagen (OTCPK:VLKAY), and the Blue Oval as the only remaining potential merger partners left in the industry.
- This year's event takes on added significance with local manufacturers increasing market share in China. During Q1, the top five selling models in the high-margin SUV category were all made by Chinese companies.
- Automobile sales are expected to rise 7% in China this year, aided by a tax break on purchases. Some analysts think that demand will fall flat next year.
- Another key topic will be the supply chain disruption due to the earthquakes in Japan. Most of the majors have been affected by the natural disaster.
- Models being showcased next week at the Beijing Auto Show include the Acura CDX, Audi TT RS, Chevrolet FV2030, Jaguar XFL, and the all-electric LeEco.
- The LeEco is made by the Chinese parent company of EV player Faraday Futures. Though there's plenty of room in the China EV market for LeEco, Tesla Motors, and others - a Bloomberg report this week indicated that EV sales numbers out of China can't be trusted.
- Related automaker stocks: OTC:CQCAF, OTCPK:GWLLF, OTCPK:GWLLY, OTCPK:GELYF, OTCPK:GELYY, OTCPK:BYDDY, OTCPK:BYDDF, KNDI, OTCPK:DNFGY, OTCPK:DNFGF, OTCPK:DDAIF, OTCPK:VLKAY, OTCPK:BAMXY, GM, TTM.
- Now read The First Trust Nasdaq Global Auto Index ETF: Road To Success?
Mon, Apr. 18, 9:24 AM
- Kandi Technologies (NASDAQ:KNDI) announces two of the EV models produced by its joint venture will receive tax exemption approval in China.
- The Geely Global Hawk brand electric vehicles model SMA7001BEV25 and SMA7000BEV05 landed the distinction.
- The company expects EV sales to accelerate this year after a slow start due in part to trademark rulings delays.
- Kandi partners with Geely Automotive (OTCPK:GELYF, OTCPK:GELYY) in the 50-50 JV.
- Now read Electric Vehicle Maker Set To Accelerate: Kandi Technologies
Mon, Mar. 14, 10:59 AM
- Kandi Technologies (KNDI +12.8%) is higher after reporting Q4 results ahead of expectations and guiding for Q1 revenue of $46M to $48M.
- The company expects its JV to deliver 35K or more EV products in 2016.
Mon, Mar. 14, 7:05 AM
Fri, Jan. 15, 9:29 AM
Kandi Technologies Group, Inc. designs, develops, manufactures and commercializes pure electric vehicles and electric vehicle parts. Its electric vehicle parts include controllers, air conditioning units, drive motors, and body parts and other auto parts. The company conducts its business... More
Sector: Consumer Goods
Industry: Trucks & Other Vehicles
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