According to the company, the anticipated subsidies, including contributions from both the city and provincial level, will cover up to 50% of the purchase price of the vehicles, which have been designed for easy battery removal and replacement in line with the new business model for large scale EV development and sales in China.
The company expects that the final approval of subsidies from Zhejiang Province in China will be received by the end of this year.
Xiaoming Hu, chairman and CEO of Kandi, said: “There is a great deal of excitement in Jinhua about becoming the leading city in China with a comprehensive approach to making electric vehicles the every day commuter car of the future.
”The Alliance is working closely with city officials as well as the Zhejiang provincial government to pave the way for this.The decision to stimulate initial EV sales with substantial subsidies reflects the strong commitment of our local and regional officials to the success of this joint effort. “
Kandi believes that the alliance also will lead to the development and construction of the battery stations that are an intrinsic element in the model EV city plan. The strategy of the alliance entails placing a battery station every 5sqkm within Jinhua, initially covering approximately 300sqkm.
