Kandi Technologies +16% after models qualify for U.S. tax credit

|About: Kandi Technologies Group,... (KNDI)|By:, SA News Editor

Kandi Technologies (NASDAQ:KNDIraces 16% higher after the company discloses that the 2019 EX3 and K22 models qualify for up to $7.5K in U.S. federal tax credits.

Both models received the written acknowledgement of immediate eligibility for credit and the amount of the qualifying credit from Department of the Treasury of Internal Revenue Service for the New Qualified Plug-in Electric Drive Motor Vehicle Credit.

Kandi CEO update: "The pure electric vehicle market in the United States is full of potential. Following the approval of federal tax credit, Kandi’s EV products have become more competitive in both price and quality. I am confident that SC Autosports will successfully grow the EV business in addition to the powersports business."

Source: Press Release

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