Benzinga | Jul 29, 2020 03:31PM EDT

Why Kandi Technologies Is Trading Higher Today

Kandi Technologies Group Inc (NASDAQ:KNDI) shares were trading higher on Wednesday after the company announced the launch of its electric vehicles for the U.S. market, with an initial focus on the Dallas-Fort Worth metroplex.

Kandi Technologies Group is engaged in the development, production, and distribution of the 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.

It generates revenue through EV parts and off-road vehicles. Other than its business in China, the group has minimal operations and revenues coming in from overseas too.

Kandi Technologies shares were trading up 82.95% at $7.08 on Wednesday. The stock has a 52-week high of $7.50 and a 52-week low of $2.17.