Kandi Technologies (NASDAQ:KNDI) has revealed that the Texas Commission on Environmental Quality (TCEQ) has approved it for a major rebate.
Here’s what customers and investors need to know about the Kandi Technologies rebate.
- Texans looking to purchase one of the company’s electric vehicles (EV) can get a $2,500 rebate when doing so.
- That, combined with the $7,500 federal tax credit, immensely lowers the price of Kandi Technologies EVs in the state.
- The company notes that this means customers in the state can purchase a new vehicle from it for less than $8,000.
- That covers the K27, which has an MSRP of $17,499.
- The Kandi Technologies rebate also includes the K23, which has an MSRP of $27,499.
- With the tax credits and rebate, the K27 only costs $7,499 and the K23 is only $17,499.
- It’s no surprise that news of the Kandi Technologies rebate is pushing KNDI stock higher today.
- The rebate and federal tax credit set it up to be a choice for consumers and investors always like additional sales.
- It’s also worth noting that there’s been much positive movement of late for EV companies.
- That’s due to Joe Biden likely being the next President of the United States.
- Biden’s plans as president include a focus on green energy, which includes EV companies such as Kandi Technologies.
- Keeping those two things in mind, it’s no wonder that investors are taking an interest in KNDI stock today.
- Roughly 24.8 million shares have traded today as compared to the average daily volume of 5.21 million shares.
KNDI stock was up 18.9% as of noon Wednesday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.