Benzinga | Aug 6, 2020 09:41AM EDT

Kandi Technologies' US Subsidiary Kandi America Reports Plans For Distribution Given Formal Launch Of Electric Vehicles On US Market

Kandi America, the U.S. subsidiary of Kandi Technologies Group Inc. (NASDAQ GS: KNDI), an international automotive manufacturer, today announced plans for distribution as it nears the formal launch of the most affordable electric vehicles (EVs) on the U.S. market.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200806005570/en/

Kandi is actively seeking authorized dealer engagements and entertaining inquiries from dealerships across the U.S. Additionally, with its sights set on further international expansion, Kandi America continues to receive distribution inquiries from around the world, including from Canada, Brazil, Mexico, India, Romania, Bulgaria, Australia and Ecuador.

"At this time, our primary objective is to establish and maintain the best retail electric vehicle distribution network in the industry," said Brandon Ballard, Director of Business Development for Kandi America. "Only through a robust, fully engaged, dedicated and trustworthy dealer network can we accomplish our vision of sparking a true Auto EVolution for all."

Consumer interest for the K23 and K27 continues to grow with requests for test drives skyrocketing since last week. Kandi America will unveil additional information to consumers, dealers and other stakeholders during its virtual launch event at 10 a.m. CST on August 18. To register, visit DriveKandi.com.

"The large amount of inquiries we have received since announcing our U.S. market launch last week is very exciting. We have already fielded substantial interest from dealers and started to review their qualifications," said Johnny Tai, CEO of Kandi America. "The overwhelmingly positive response we have received thus far underscores U.S. consumers' increasing appetite for an affordable electric vehicle option. In fact, many have asked to reserve a Kandi prior to the launch."

An announcement will be made early next week pertaining to pre-sales and the ability to make a $100 refundable deposit. Those interested in owning a Kandi EV have access to a $7,500 federal tax credit, depending on eligibility, which will reduce the K23 price to $22,499 and K27 price to $12,499. The vehicles will be available for delivery starting in fourth quarter 2020.

Prospective dealers looking to gain additional information on how to become a Kandi America partner can visit KandiAmerica.com/dealer-inquiry.