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Chinese electric car maker Kandi shares rocket 40% on approval of US imports

Michael Sheetz

The stock gain follows NHTSA's approval of Kandi Technologies Group's bid to ship its Model EX3 and Model K22 cars to the U.S. The Chinese electric auto maker believes its cars "are competitive in price and quality" to electric vehicles in the U.S. Shares of Kandi Technologies Group KNDI rocketed more than 40 percent Wednesday after the Chinese electric car maker announced it has received approval to import two of its cars to the United States.