Kandi Technologies (KNDI) Makes First Sale Of Its COCO Electric Car In China

Posted by | # |
09:05:07 am on November 12, 2009

Kandi Technologies (KNDI) is announcing this morning that it has sold the first 30 of its all electric COCO super minis in China to the local postal service in Jinhua City.

The CEO called it a milestone event that could represent the beginning of a long relationship with the Postal Service in China nationwide.  The government has urged other public services to upgrade their vehicles as well to cleaner, fuel efficient options, so there are many more opportunities.

CEO Xiaoming Hu commented, “We are actively pursuing Postal Service sales with a particular focus initially in our home province of Zhejiang and neighboring cities where we believe we have a leg up on potential competition.  In any case, the very substantial national public service opportunity provides lots of room for growth for Kandi as well as other potential manufacturers of electric or other alternative fuel cars.”

The COCO which sold to China Post at about $7600 per vehicle is a low speed, casual driving, all electric vehicle which were modified to meet the needs of the postal service.  It’s run on two 12V batteries that fully charge in 6 hrs and travel up to 80 miles at around 25 mph.

Shares of KNDI are up about 10% in premarket trading.

Tags: , , , ,
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.


No comments yet.

Leave a comment