by Karl Utermohlen | June 17, 2014 3:13 pm
Kandi Technologies (KNDI) stock soared on Tuesday afternoon following Tesla’s (TSLA) announcement that it would share its technology with other carmakers.
Kandi is a Chinese automaker that focuses mostly on electric vehicles. Tesla’s desire to share its technology and collaborate with other companies to promote fuel cell technology has given the Chinese company hope in the electric vehicle market.
“Tesla will not initiate patent lawsuits against anyone who, in good faith, wants to use our technology,” Tesla CEO Elon Musk said.
KNDI stock is up over 9% Tuesday afternoon. TSLA stock is up over 4%.
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