Kandi Technologies (KNDI) is reporting that following the grand opening of Jinhua City’s first battery charging and replacement farm, consumer sales of its all electric car have begun and the company immediately sold out of the first 20 that were available. The all electric Model KD5010 is aimed at city driving with a compact size and price tag of just under $6K. It aims to be a key component in the electric car revolution in China with the company setting a goal of 3000 of its EV’s on the road within the next two years.
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Kandi Technologies believes it has solved many of the problems associated with electric cars such as high cost, long charge times, short ranges and inadequate recharging facilities by separating the battery from the car and working with local government to provide adequate charging facilities. That is, the car owner leases the battery and all charging, replacing and recycling is taken care of by a 3rd party firm. To alleviate the inconvenience of significant charging times, Express Change stations allow owners to swap out depleted batteries for fully charged batteries in just a few minutes.
The 3000 goal only represents the number of vehicles currently allotted for a government subsidy. KNDI will solicit the government for an increase when the allotment is about to be exhausted. To quote another report, the goal is actually 30,000 within the next 2 years.