Kandi's $20,000 electric car is the cheapest the US has seen
High prices are undoubtedly a significant factor in the rate of electric car uptake, but a couple of new entrants to the US market could help shake up the status quo. Chinese company Kandi is set to bring two models stateside that will become the cheapest electric vehicles on the US market, with both slated for delivery before the year is out.
Chinese battery and electric vehicle maker Kandi will kick off sales of the new models through its US subsidiary, with a virtual launch event to be held on August 18. Here, the company will introduce a boxy, compact car for the city called the Model K27, along with the larger K23 model which is around the size of a small SUV.
The smaller K27 packs a 17.69 kWh battery that provides an estimated 100 miles of range 160 (km/h), with its 20 kW electric motor delivering a top speed of 63 mph (101 km/h). It features a 9-inch touchscreen and has a sticker price of $19,999, though that could be as low as $12,999 when federal tax credits come into play.
The larger K23 is fitted with a 41.4 kWh battery, with range listed as an estimated 188 miles (302 km). It generates 21 kW of power and has a top speed of 70 mph (112 km/h). The car features a 10-inch touchscreen and little more trunk space than the K27, with a higher price tag of $29,999. This, however, could be cut to $22,499 after federal tax credits.
“This is an exciting time for Kandi Technologies as we successfully roll-out the sales of the K27 and K23 in the United States,” said Kewa Luo, Investor Relations Director of Kandi Technologies Group. "Since early 2019, we have been working hard to identify the right distributor, secure regulatory approvals and demonstrate readiness for success in this emerging and dynamic market. With those milestones achieved, we now look forward to this exciting next phase of growth.”
Kandi will open up pre-sales for the K27 and K23 at the August 18 launch event, with customers able to lay down a $100 deposit to secure one of the cars. The company says delivery of both will take place in the fourth quarter of 2020.