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Benzinga
Benzinga
Business
Shivani Kumaresan

Kandi Subsidiary Enters Mass Production Of LFP Battery

  • Kandi Technologies Group Inc's (NASDAQ:KNDI) wholly owned subsidiary Jiangxi Province Huiyi New Energy Co Ltd (Huiyi) has entered mass production of its lithium iron phosphate (LFP) battery IFR18650-2200mAh.
  • The IFR18650-2200mAh has a 10% higher energy capacity than the 18650-2000mAh created in 2019 and is 22% higher than the current industry average. 
  • "We are confident that Kandi can strengthen its market position in the supply chains of various electric vehicles as we integrate Huiyi into our operations," said Chairman and CEO Hu Xiaoming.
  • Price Action: KNDI shares are trading higher by 8.38% at $3.62 on the last check Tuesday.
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