Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
All bets have been on Tesla Inc (NASDAQ:TSLA), General Motors Company (NYSE:GM) and market newbie Nio Inc - ADR (NYSE:NIO). But in the final lap of the electric-vehicle race, Kandi Technologies Group Inc (NASDAQ:KNDI) has made an unexpected surge.
What Happened
The Chinese joint venture company announced Wednesday the U.S. National Highway Traffic Safety Administration approved two purely electric models for importation and registration.
“The approval has demonstrated our EV models meet all the necessary requirements and standards of the U.S. government,” Kandi Chairman and CEO Hu Xiaoming said in a press release. “With this, we are confident in introducing our reliable vehicles to the American public.”
Kandi subsidiary SC Autosports will pioneer the launch of Model EX3 and Model K22 in the U.S. market.
This progress marks Kandi’s second significant milestone in the last five months. In October, the firm qualified for the U.S.’s $7,500 EV tax credit — a pricing advantage that Tesla and GM have nearly exhausted. The subsidies help Kandi meet demand at more competitive consumer prices.
Kandi shares popped more than 20 percent on the news, trading around $7.24 at time of publication.
Related Links:
Ford, VW Form Alliance: 'Our Industry Is Undergoing Fundamental Change'
Electra Meccanica's Crazy Week Continues
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!