Kandi Technologies Group, Inc. (NASDAQ: KNDI) stocks were virtually unchanged at the outset Tuesday, a few days after announcing that its next generation all-electric crossover models, 1124 and 1124A, have officially entered mass production at the Hainan facility. These two new models, developed over a year and a half at the Hainan base, are set to be launched in the third quarter of this year.
Kandi's all-electric four-wheel crossover vehicle, crafted and manufactured at the Hainan facility, has garnered impressive sales since its introduction in 2022. This success can be attributed to its captivating design, offering a fresh and enticing appeal, as well as its comfort-oriented automotive-grade chassis and exceptional handling capabilities.
With a steadfast commitment to meeting international benchmarks for each product delivered to global customers, the Company has maintained its dedication to autonomous development and pioneering technology.
This commitment is underscored by the successive creation of various models, such as the 1204, 1205, and 1124. Notably, in 2022, the 1204 series accomplished significant triumphs in overseas markets, asserting its position as the premier imported product within the U.S. segment.
CEO Xueqin Dong commented, “We are delighted to announce the commencement of formal mass production for the two new models. They are projected to achieve an annual sales volume of over ten thousand units after launch. We believe that the 1124 series will become another flagship product for Kandi, joining the recently launched all-electric dual-motor four-wheel-drive UTV, thereby further elevating the Kandi brand and driving efficiency gains.”
KNDI lost a penny to $3.25.
