Benzinga | Nov 18, 2020 12:52PM EST

Why Kandi Technologies Stock Is Trading Higher Today

Kandi Technologies (NASDAQ:KNDI) shares are trading higher on Wednesday on continued strength after the company on Tuesday reported it received approval from Texas to offer a rebate on its vehicles.

Kandi Technologies is engaged in the development, production, and distribution of electric vehicle products, EV parts, and off-road vehicle products primarily in the Chinese market. Other product offerings include all-terrain vehicles, go-karts, utility vehicles, battery packs, motor vehicles, controllers, and air conditioning systems for vehicles.

Kandi Technologies shares were trading up 18.49% at $11.15 at last check Wednesday. The stock has a 52-week range between $17.40 and $2.17.