China's New Energy Vehicle Subsidy Extension Jump Starts Tesla, Kandi Share Prices
Shares of Tesla Motors (TSLA) climbed sharply Monday after China said it will give more subsidies for electric vehicles than announced earlier, as it pushes to cut rising air pollution.
Tesla opened its first mainland China showroom in Beijing late last year and is expected to quickly ramp sales of its high-end electric cars in the country.
China's Kandi Technologies (KNDI), a maker of specialized electric vehicles such as all-terrain vehicles and utility vehicles, could also get a boost from the move.
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