The Kandi Machine--China's Sweet Electric Vehicle Solution
By Aaron Rockett
In 2010, spurred by President Barack Obama's push for a "green economy" I started research for a potential documentary on green technology. I began looking at fledgling companies that might offer a viable path for this so-called "green economy."
I was initially interested in the possible reality of electric vehicles. I decided to take small positions in several technology companies to monitor their growth.
I discovered Kandi Technologies Group (KNDI), a Chinese electric vehicle company listed on NASDAQ.
Over the last three years of following my "green economy" stocks, with several crashing and burning, I noticed Kandi starting to emerge as a viable option for electric cars in a country that desperately needs this solution to combat their pollution. But it wasn't until the completion of their first public automated EV CarShare garage earlier this year that I even considered traveling to China to further my work. The Chinese media reports were showing Kandi's new electric car garage and to me it looked like an enormous vending machine for electric cars. I thought immediately that this was a novel concept and would make for great video. I had to see it for myself.
The Kandi public EV CarShare concept is based on Hangzhou's bikeshare, the largest bikeshare in the world and the first of its kind in China. The bikeshare has since spread from Hangzhou to 19 Chinese cities including Shanghai and Beijing.
Kandi's plan is to build with both Government and "outside" support, 750 of these garages in just the City of Hangzhou over the next four years through a 50-50 joint venture with Geely Automotive, China's largest passenger automaker, which would require some 100,000 Kandi electric vehicles to stock them. This model is slated to spread to other cities and regions like Shanghai, Shandong, and Hainan. Two garages were just completed in Hangzhou over the past two months and another 18 are currently under construction as of two weeks ago.
Video by Aaron Rockett
(Disclosure: Long KNDI)