Why Kandi Technologies' Stock Is Higher Today
Shares of Chinese electric-vehicle maker Kandi Technologies (NASDAQ: KNDI) were trading higher on Monday, after the company said that it completed a key milestone in its effort to bring its electric-vehicle battery-swap technology to market.
As of 3 p.m. EDT, Kandi's American depositary shares were up about 13.4% from Friday's closing price.
In a statement, Kandi said that it had completed the delivery of its automatic battery-swap system to a ridesharing operator in China's Hainan province. The system, developed by a Kandi subsidiary, automates the process of swapping batteries on Kandi's compact K23 hatchback, the model used by the ridesharing company.
Source Fool.com
