Kandi reduces price of its electric car under $10,000 (with incentives) for US launch

Kandi, a Chinese electric car manufacturer, is launching its electric cars in the US, and it has reduced the price under $10,000 with the federal tax credit for the launch.

Several Chinese automakers are currently looking to expand outside of China, and that’s especially true of electric vehicle makers.

Even foreign automakers, like Volvo and BMW, are now producing electric vehicles in China and exporting them globally. The Chinese-made Polestar 2 is due later this year. BMW is also looking at bringing Chinese made EVs to the US.

But when it comes to China-based electric automakers, Kandi is leading the way to sell first in the US.

Last year, Kandi announced that it received US approval to sell two electric cars in the country.

Last month, the automaker released details of the first two cars to hit the market: the Kandi K27 and K23 models.

Both vehicles are four-door compact cars with the K23 being slightly bigger than the Kandi K27. They respectively started at $29,999 and  $20,499 before incentives.

Today, they officially launched the vehicles in the US with a virtual presentation and started taking reservations:

For the launch, they reduced the price of the first 1,000 K27 electric cars:

Kandi America is offering a special promotion for the first 1,000 pre-orders for each model. Originally priced at $19,999 MSRP, the K27 is now listed as $17,499. With the $7,500 federal tax credit, this brings the prices down to just $9,999 respectively for eligible buyers.

And the first 1,000 K23 electric cars:

Kandi America is offering a special promotion for the first 1,000 pre-orders for each model. The K23 is discounted from $29,999 MSRP to $27,499. With the $7,500 federal tax credit, this brings the prices down to just $19,999 respectively for eligible buyers.

The electric cars are also going to be eligible for incentives in other states, which means that the K27 could be purchased for less than $10,000 in some cases.