Chinese Enterprises Form Electric Car Technology Alliance
China-based Kandi Technologies Corp. (KNDI) has allied itself with major energy, information-technology and battery companies as it pushes the evolution of electronic-vehicle technology in the country.
Shares of the go-kart and ATV maker jumped 13% to $4.97 in premarket trading.
Kandi agreed to an alliance with a joint venture of China National Offshore Oil Corp. and China Potevio Co. as well as Tianneng Power International Ltd., "aimed at speeding up the commercialization and achieving mass adoption" of pure electronic vehicles in China.
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