Chinese automaker Kandi plans to bring a $13,000 electric car to the US this year, slashing the entry price of EV ownership

Kandi K23.
Kandi K23.

Kandi America

  • Kandi Technologies Group, a Chinese auto company, announced this week that it’s launching two ultra-affordable electric vehicles in the US later this year.

  • After federal tax credits, Kandi’s K23 and K27 hatchbacks will cost $12,999 and $22,499, respectively, the company said.

  • According to initial details, the cars offer range that’s on par with many other budget-friendly EVs.

  • Kandi America plans to start deliveries in the fourth quarter of this year, and will initially focus on selling the cars in the Dallas-Fort Worth area.

  • Visit Business Insider’s homepage for more stories.

A Chinese car company is planning to launch two new battery-powered vehicles in the US, and if all goes according to plan, they’re set to be the cheapest EVs available stateside by far.

Kandi Technologies Group announced last week that it’s bringing the two EVs to market through its Kandi America arm this year, sending its stock price soaring. The cars — a tiny K27 and slightly larger K23 — will each cost less than $30,000, making them a fair bit cheaper than the Nissan Leaf, Chevrolet Bolt, Hyundai Kona Electric, Tesla Model 3, and any other BEV currently sold in the US.

According to Kandi America, the K27 and K23 will retail for $19,999 and $29,999, respectively, which comes out to a mere $12,999 and $22,499 after federal tax incentives. The deals are hard to pass up based on numbers alone, and we’ll soon see how the EVs stack up on the value scale.

Keep scrolling to take a closer look at the K27 and K23.

Kandi Technologies Group — a Chinese manufacturer of electric vehicles and auto parts — is bringing two pint-sized electric vehicles to the US market, the company announced last week.

Kandi K23.
Kandi K23.

Kandi America

They’re set to become the cheapest EVs in the US, undercutting the Nissan Leaf, Hyundai Ioniq Electric, and other affordable options even before tax credits.

Kandi K23.
Kandi K23.

Kandi America

The tiny K27 model carries a retail price of $19,999, which comes out to $12,999 after federal tax breaks, according to Kandi America.

Kandi K27.
Kandi K27.

Kandi America

That means one could nearly buy three Kandi K27s for the price of one Tesla Model 3.

Kandi K27.
Kandi K27.

Kandi America

The ugly-cute EV comes with a 17.69 kWh battery, giving it a claimed range of 100 miles …

Kandi K27.
Kandi K27.

Kandi America

… and a top speed of 63 mph.

Kandi K27.
Kandi K27.

Kandi America

All of that makes it ideal for city driving, Kandi says.

Kandi K27.
Kandi K27.

Kandi America

The larger K23 isn’t cute — far from it, in fact — which might make it a hard sell among US buyers, who are already slow to switch to EVs.

Kandi K23.
Kandi K23.

Kandi America

But it’s definitely the more capable offering of the two, at least according to the preliminary information Kandi has put out.

Kandi K23.
Kandi K23.

Kandi America

And with an MSRP of $29,999 — $22,499 after federal tax credits — it’s pretty darn affordable, too.

Kandi K23.
Kandi K23.

Kandi America

Kandi says the K23 “the size of a small SUV,” which is a bit of a stretch.

Kandi K23.
Kandi K23.

Kandi America

In reality, it’s a bit smaller than the Honda Fit.

Kandi K23.
Kandi K23.

Kandi America

So while it seems to be significantly more spacious than its little sibling …

Kandi K23.
Kandi K23.

Kandi America

… it’s still pretty small.

Kandi K23.
Kandi K23.

Kandi America

And it only seats four.

Kandi K23.
Kandi K23.

Kandi America

Kandi claims an estimated range of 188 miles, which isn’t too shabby when compared with other EVs on the cheaper side of the spectrum.

Kandi K23.
Kandi K23.

Kandi America

It comes with a 41.4 kWh battery, roughly the same as the base-model Leaf.

Kandi K23.
Kandi K23.

Kandi America

It boasts a top speed of 70 mph, according to Kandi, which theoretically makes it a bit more suited for highway driving than the K27.

Kandi K23.
Kandi K23.

Kandi America

Affordability is great — especially in an EV market with no sub-$30,000 options — but Kandi’s cars will need to be more than inexpensive to capture the attention of US buyers.

Kandi K23.
Kandi K23.

Kandi America

Both models will officially launch during an online event on August 18, and will be available to preorder with a $100 refundable deposit.

Kandi K23.
Kandi K23.

Kandi America

Sales will initially focus on the Dallas-Fort Worth area, where Kandi America is based. The company says deliveries will start in the fourth quarter of this year.

Kandi K23.
Kandi K23.

Kandi America

Read the original article on Business Insider

Source Article