Kandi Subsidiary Enters Mass Production Of LFP Battery

Kandi Technologies Group Inc's 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.