Kandi Pure EV Models EX3 and K22 Qualify for Full $7,500 U.S. Federal Tax Credit in 2020
03/13/2019
JINHUA, CHINA--(March 11, 2019) - Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI) through its 100% owned subsidiary SC Autosports, LLC announced today that Kandi Pure EV Models EX3 and K22 reached another significant milestone in the American market. After both models received approval of eligibility in October 2018 for up to a $7,500.00 New Qualified Plug-in Electric Drive Motor Vehicle Credit (the “Credit”) from the Internal Revenue Service (“IRS”) for U.S. customers who purchased models EX3 and K22 in 2019, new U.S. buyers who purchase models EX3 and K22 in 2020 also qualify for the Credit according to Internal Revenue Code Section 30D. For more information about the Credit, please visit https://www.irs.gov/businesses/irc-30d-new-qualified-plug-in-electric-drive-motor-vehicle-credit.
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi commented: “We are very pleased that Kandi EV Models K22 and EX3 are qualifying for this U.S. federal tax credit again in 2020. According to the IRS website, as of now, K22 and EX3 are the only two EV models that are qualified for both the 2019 and 2020 federal tax credit. We are currently in the process of preparing a detailed plan in advance of Kandi’s debut of EV models in the American market. We, at Kandi, believe that our talented and hard-working team, as well as our quality products, will lead to a successful launch and secure Kandi’s market share in the U.S. for the years to come.”
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi commented: “We are very pleased that Kandi EV Models K22 and EX3 are qualifying for this U.S. federal tax credit again in 2020. According to the IRS website, as of now, K22 and EX3 are the only two EV models that are qualified for both the 2019 and 2020 federal tax credit. We are currently in the process of preparing a detailed plan in advance of Kandi’s debut of EV models in the American market. We, at Kandi, believe that our talented and hard-working team, as well as our quality products, will lead to a successful launch and secure Kandi’s market share in the U.S. for the years to come.”
