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Kandi Sees Electric Vehicle Deliveries Accelerating

Kandi Technologies (KNDI) stock jumped Tuesday on expectations the Chinese maker of ATVs, motorcycles and other small vehicles will ramp up deliveries of its electric cars in the fourth quarter.

In an SEC filing, Kandi provided an English translation of a Q&A at its Dec. 19 stockholder meeting. The company, which is in an electric vehicle (EV) joint venture with Geely, expects to deliver 2,800 EVs in Q4. In all of 2012, it delivered 3,915.

“In 2014, we expect our EV business may surpass our legacy go-cart business and become a major revenue generator for the company,” said CEO Hu Xiaoming.

Shares jumped 7% on the stock market today.

The push toward EVs comes as China looks to curb its increased air pollution. Kandi said the government’s renewal of EV subsidies in September will help boost demand.

Kandi and Geely also signed a deal with the city of Hangzhou last August to provide a car-sharing program for China’s fourth-largest metro area.



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