Excerpt from Chinese news article: "...According to the station's staff, they are a 24-hour rotation system, with a daily average of 40-50 vehicles loaned vehicles .Weekend by the largest number of vehicles, mainly dominated by car travel, the average daily volume reached by car 60-70 vehicles..."
bemos claimed there were no customers. Chinese media investigated and reports otherwise. For a program with only one location (18 more under construction) and low awareness in "month one" 40-50 loaned vehicles on weekdays and 60-70 on weekends is astounding fleet utilization. With four door option being added, growing awareness through exposure of the iconic green and white cars on the streets—coupled with user word of mouth—it bodes well for growing demand. It's also a positive sign that Geely will have a CarShare tower at their Global headquarters office building—they support their EV partner ;)
It is next to impossible to post a link on yahoo message board. If you want to know the link an easy way to get it is from the Private Yahoo Message Board for KNDI. They had the link today - also got an alert that the Institutional Buying now was at 15% for the stock, up 1200% in the past year or since subsidies came into affect. Also had a link on there to the fact that another EV tower opened up and that 20 should be done by EOY. . . There is a lot of DD on that board for this stock instead of having to look for it. Highly suggest it.
Sentiment: Strong Buy
Senlach - if you are a strong buy then this link and most links on this board are found on the Yahoo Private Message Board for KNDI. It is next to impossible to add a link on messages due to the yahoo message board policy - it delete the link. Just today on the Private Message board - new news came out that institutional buying in KNDI increase from Jan 300,000 shares to Nov 3,300,000 shares. Good to get on that board. DD.
Sentiment: Strong Buy
Yes, the profit from selling the car to the CraShare program locations. And they have a vested interest in the CarShare business itself which is operated by a separate company. About 19% interest. So they remain a car manufacturer and profit from the supply...and, without the burden of CarShare management and operation cost, the percentage of CarShare revenue is gravy or goes straight to the bottom line :)
Actually, article goes on to say: "The parking garage can accommodate 30 cars, weekend by car is far beyond the actual number of vehicles, which led to a lot of people by less than a car." Said Zhu Lingyun, weekend trips longer time by car relatively extended, many people do not want to wait, so the replacement of another way to travel."
Basically, to translate Google translate, the "good problem" is that there are more customers than there are cars—a problem that the article claims will be mitigated by 5 new towers by month end and approx twenty by years end. ER on Friday should verify or clarify whether bemos or the independent chinese media reporter (with seemingly no vested interest) is closer to reporting what is really happening on the ground in Hangzhou.
Dominique thanks for sharing the article. totally agree with you expansion will be huge in a short timethis is a great company there getting it done not just saying will be doing this or that but getting it done .they are now up and running and if demand is strong as I suspected it is you won't be able to keep this stock down any longer. Think about it if you lived in the big cities of China and you had to wear a surgical mask just to go outside . and you saw someone driving an EV you would probably have a lot of respect for them and be thankful only one would become vogue. stylin and be very cool to drive one and be perceived by the public in a positive way this is what I believe will drive demand faster than most perceive. good luck to all longs
Thanks dominique. Your fact-based postings are refreshing. For anyone hanging on the sidelines, all I have to say is.... don't wait too long, IMO. Every successful paradigm-shifting company in history has had modest sales initially... right up until the point those sales explode. When a good idea is implemented and catches on, it happens fast. If you wait for the big numbers to be reported, you may find yourself missing a large chunk of the initial move up. Yes... it has taken Kandi some time to put all the pieces in place... to establish relationships and create partnerships with government and industry, wait for renewed subsidies, ramp up production, wait for build-out of the EV sharing garages. But from what I can tell, most of the groundwork is done. And expansion is happening now. And with the level of interest that I've seen in Chinese media reports, that explosion of growth, IMO, is already in progress. Exponential growth is a funny thing. It looks small at first, but then sneaks up on you quickly. I'm not going to tell anyone how they should invest their hard-earned money. But I can tell you I've already put my money where my mouth is.
Sentiment: Strong Buy
Don't forget that President Xi is a friend of Mr. Hu, CEO of Kandi!
Also once the 20,000 EV leasing program starts up this will be unbelievable for revenues thru 2014 while the 100+ EV carshare garages are being built thru 2014 and
don't forget that Shanghai Carshare is just around the corner!
bemos posts are short, without any substance or basis, and are simply intended to create doubt and stimulate frustrated responses. The result of the of which is a jump back to the top of the topic list—much like this post will do. Best to just not offer a response to his posts if you can stand it.