Jinhua City to Subsidize 3,000 Kandi (KNDI) Electric Vehicles
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Kandi Technologies, Corp. (Nasdaq: KNDI), announced that an inauguration ceremony for a new energy vehicle promotional campaign of Jinhua City was sponsored and held by Jinhua Municipal City at the facility of Zhejiang Kandi Vehicles Co., Ltd., a wholly owned subsidiary of the Company, on October 12th, 2011.
The objective of the ceremony was to promote the sales of electric vehicles in Jinhua City through government financial subsidies to consumers who purchase Kandi pure EV. A Kandi pure EV is priced at 43,000 RMB (approximately $6,750). To encourage consumers to purchase the electric vehicles, Zhejiang Provincial Government and Jinhua Municipal Government will provide subsidies of 32,000 RMB (approximately $5,024) to the buyers for each of the first 500 Kandi pure EV, 20,000 RMB (approximately $3,140) to the buyers for each of the next 1,000 Kandi pure EV, and 16,000 RMB (approximately $2,512) to the buyers for each of the following 1,500 of Kandi pure EV.
The objective of the ceremony was to promote the sales of electric vehicles in Jinhua City through government financial subsidies to consumers who purchase Kandi pure EV. A Kandi pure EV is priced at 43,000 RMB (approximately $6,750). To encourage consumers to purchase the electric vehicles, Zhejiang Provincial Government and Jinhua Municipal Government will provide subsidies of 32,000 RMB (approximately $5,024) to the buyers for each of the first 500 Kandi pure EV, 20,000 RMB (approximately $3,140) to the buyers for each of the next 1,000 Kandi pure EV, and 16,000 RMB (approximately $2,512) to the buyers for each of the following 1,500 of Kandi pure EV.
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