Kandi/Geely JL7001 BEV Gets Nod of Approval to be Sold in China; Will Qualify for Subsidies
Kandi Technologies, along with partner Geely Automobile (parent company of Volvo), recently received the nod of approval from the Chinese government to sell the Kandi JL7001 BEV, an electric vehicle with an unfortunate name.
By receiving this “nod of approval” the Kandi JL will qualify for all of China’s federal and local government subsidies and incentives. This is a big deal in China where, without subsidies, electric vehicles are incredibly cost prohibitive.
Kandi Technologies is most well known as a manufacturer of neighborhood and all-terrain electric vehicles, but with Geely’s assistance, Kandi will bring to market a “real” electric vehicle.
The maker and developer of electric vehicles and all-terrain vehicles created a joint venture to develop and produce electric vehicles in China–the world’s largest auto market–earlier this year. Each company has a 50% stake in the venture.
Kandi Chairman and Chief Executive Hu Xiaoming, had this to say of the Kandi/Geely partnership:
“Kandi and Geely have accomplished a significant progress in their cooperation. We will take advantage of the strength, resources and expertise of both Kandi and Geely to achieve a greater success in manufacturing, R&D and sales of the EV in China.”
China aims to put 500,000 hybrid and electric vehicles on its roads by 2015 and 5 million by 2020. Sales of electric vehicle in China totaled 11,375 in 2012.
No additional details on the JL700! BEV are available at this time.