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KNDI: Why Kandi Technologies Stock Is Soaring Today

Kandi is an electric carmaker based in China


Kandi Technologies (KNDI) stock soared on Tuesday afternoon following Tesla’s (TSLA) announcement that it would share its technology with other carmakers.

KNDIKandi 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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