China's Electric Car Market Building Momentum -- BrokerBank Securities, Inc.
NEW YORK, May 13, 2015 /PRNewswire/ -- China is now the world's largest vehicle market, accounting for over 25 percent of the vehicles produced globally every year, vehicle penetration is still exceedingly low. There are just over 100 vehicles per 1,000 in China. Many of those without cars live in China's Tier 2, Tier 3 and Tier 4 cities, as well as in the country's urban fringes and rural areas. For this set of consumers, a high rate of speed is not necessary, nor is a long driving range. Instead, these consumers simply want an affordable car that can be used to get around town, or perhaps as a second car. Here is the playground for low-speed and limited range EVs, as long as they provide affordable transportation. In 2014, 400,000 so-called "low-speed" EVs were sold in China, compared to only 84,000 conventional all electric and hybrid electric vehicles.
Kandi Technologies Group, Inc. (NASDAQ: KNDI) is one of China's leading producers and manufacturers of electrical vehicle products, electrical vehicle parts and off road vehicles for sale in China and global markets. It designs, develops, manufactures, and commercializes all-terrain vehicles (ATVs), utility vehicles, go-karts, three wheeled motorcycles, refitted cars, and specialized automobiles such as pure electric vehicles (EVs). The company also provides automobile and EV parts, including EV drive motors, EV controllers, air conditioners, and other electrical products.
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BrokerBank Securities, Inc. is a member of the Financial Industry Regulatory Authority, CRD number #130116.
SOURCE BrokerBank Securities, Inc.
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