While we wait for Tesla and Elon Musk to concoct a truly affordable, mass-market electric vehicle, Chinese EV maker Kandi Technologies recently unveiled the K27 and K23. Both EVs are poised to become the cheapest and most affordable electric vehicles in the US, and both are arriving this August.
Early last year, Kandi got approval from the National Highway Traffic Safety Administration (NHTSA) to import the K27 and K23 to U.S. soil. This was followed by a 350-percent increase in share prices of Kandi stock (KNDI) last month following the company’s announcement of initially launching the K27 and K23 in Dallas-Fort Worth, Texas.
“Electric vehicles have been valued for years for their efficiency, sustainability, and innovation,” said Johnny Tai, CEO of Kandi America. “However, owning the ‘it’ car often eluded consumers who desired a great EV alongside all the comforts of modern living. Kandi is changing that by revolutionizing the EV-buying experience for many.”
The Kandi K27 is a compact EV. It resembles a shrunken Kia Soul from some angles, but it also resembles the iconic Mini Cooper with its large, round headlights. It has a 17.69 kWh lithium battery pack which, according to Kandi, is good for around 100 miles of range. Sure, the K27’s range is inferior compared to a base Nissan Leaf – good for 150 miles of range – but the K27 has base prices starting at $19,999 before federal tax credits.
Do the math and you’re looking at a $13,000 base price after tax credits, which effectively makes the Kandi K27 America’s most affordable electric vehicle. Compare that to a base Nissan Leaf ($32,000), Tesla Model 3 ($38,000), or a Toyota Prius ($28,000), the K27 is a more affordable way to enter the EV craze.
“Kandi’s mission is to make electric cars accessible to all,” added Tai. “With the K27 and K23, we are starting an EV evolution that will enable anyone, regardless of their financial status, to afford a reliable, hi-tech EV.”
Meanwhile, the K23 is larger than the K27 and resembles a smallish crossover. It offers more space and cargo room for small families. It has a larger 41.4 kWh battery pack good for 180 miles of range. The K23 has base prices starting at $22,500 after federal tax credits. Initial sales of both the K27 and K23 will begin in Dallas after the virtual launch on August 18, 2020. Kandi is looking to expand to other states beginning next year.
You can place your reservations for the K23 and K27 by making a $100 refundable deposit. The first deliveries will arrive in the fourth quarter of 2020. However, the big question remains: Are American car buyers willing to take the Chinese EV plunge? Share your thoughts below.