RTTNews | Nov 18, 2020 10:47AM EST

10:47 Wednesday, November 18, 2020 (RTTNews.com) - Shares of Chinese electric vehicle maker, Kandi Technologies Group, Inc. (KNDI) are climbing more than 12% Wednesday morning at $10.57.

Tuesday, the company said, it has received approval from the Texas Commission on Environmental Quality (TCEQ) to offer a $2,500 tax rebate to customers who buy either K23 electric SUV or K27 compact car.

The stock jumped nearly 30% from Tuesday's opening price of $8.17. it has traded in the range of $2.17- $17.40 in the past 52 weeks.

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