Kandi Technolgies To Receive Subsidies, Soars 10% (KNDI)

Shares of all terrain Chinese recreational vehicle manufacturer Kandi Technolgies, Corp. KNDI are trading up 10% at $6.72 per share during the Monday afternoon trading session. The company announced on Friday that its new KD5011 is eligible for subsidies of up to RMB 60,000, or US $9,000, per vehicle in all pilot cities designated as such by the Chinese government. The day's trading range for shares of Kandi Technolgies, Corp has been between $6.30 and $6.73 per share. Trading volume for Kandi Technolgies, Corp. (KNDI) has been heavy, with 740,000 shares having been traded today, already more than double the daily average volume of 340,000 shares. Kandi Technologies is one of the largest manufacturers and exporters of go-karts in China and also ranks among the leading manufacturers in China of all terrain vehicles (ATVs), specialized utility vehicles (UTVs), especially for agricultural purposes, and high mileage, two seater three-wheeled motorcycles. Read more from Benzinga's Company news.