Kandi Pure EV Models EX3 and K22 Qualify for Full $7,500 U.S. Federal Tax Credit
10/03/2018
JINHUA, CHINA--(October 3, 2018) - Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI)’ s 100% owned subsidiary SC Autosports, LLC announced today that Kandi Pure EV Models EX3 and K22 continue to make significant progress in the American marketplace. Both models have received the written acknowledgement of eligibility for credit and the amount of the qualifying credit from Department of the Treasury of Internal Revenue Service for the New Qualified Plug-in Electric Drive Motor Vehicle Credit (the “Credit”) effective immediately. According to Internal Revenue Code Section 30D, manufacturers must provide appropriate information to be eligible for the Credit. Kandi has completed the entire application process. As a result, a purchaser of 2019 Kandi Models EX3 and K22 electric vehicles in America may claim the Credit of up to $7,500.00 during the tax year under Internal Revenue Code Section 30D.
For more information about the tax credit, please visit https://www.irs.gov/businesses/corporations/30d-new-qualified-plug-in-electric-drive-motor-vehicles-kandi-zhejiang-kangdi-vehicles-co-ltd.
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi commented: “the pure electric vehicle market in the United States is full of potential. Following the approval of federal tax credit, Kandi’s EV products have become more competitive in both price and quality. I am confident that SC Autosports will successfully grow the EV business in addition to the powersports business.”
