Chinese EV maker to drive in 'cheapest' EV in US, price converts to ₹7.5 lakh1 min read . Updated: 19 Aug 2020, 09:27 AM IST
Kandi is looking at flooding the US EV market and says first 1,000 buyers of its K27 can benefit from special promotions.
Chinese EV makers are looking at a bigger slice of the US electric car market and despite the persisting geo-political tensions between the two countries, there may be no stopping these companies from mounting a possible challenge to the dominance of Tesla. One such company is Kandi which is in the final lap towards driving in an EV which could be priced at around $10,000 (approximately ₹7.5 lakh).
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The EV's expected price tag takes into account federal tax credit but even then, it could rile up the market because of the affordability factor. The up front cost of EVs have often deterred people from going down this path but with buying costs coming down, Kandi could possibly make the most while the sun shines over American shores.
It was previously reported that Kandi plans to bring in its K27 and K23 models to the US at a price point which could be substantially lesser than what is currently in the market. Both vehicles are four-door compact cars and cost around $30,000 and $20,000 before incentives.
In a recent promotion, Kandi stated that its K27 is listed at $17,499 for the first 1,000 buyers and that a federal tax credit of $7,500 will bring down the price to $9,999. Electrek reports that with more incentives on offer state to state, the price could fall even further.
This should be a source of some concern for larger players in the US EV market which is currently dominated by Tesla. CEO Elon Musk has already confirmed that his company is looking at developing a compact electric vehicle in the times to come which would be at a lower price point than the Model 3, the most affordable Tesla currently available.