Kandi Secures Interest From Coleman Powersports For 4,800 Crossover Golf Carts Worth $27.6M
Kandi Technologies Group Inc (NASDAQ: KNDI) said its wholly-owned subsidiary SC Autosports had received a letter of intent from Coleman Powersports to purchase 4,800 crossover golf carts.
The purchase is slated to happen in the first quarter of 2023, with a total value of $27.6 million.
Coleman Powersports placed its first purchase order of crossover golf carts in April. The monthly order volume has increased steadily since then, from 100 in June to over 1,000 in September.
"We are pleased to share Coleman Powersports' intent to purchase a large volume of golf carts from SC Autosports in January 2023, and expect their procurement volume to rise significantly in 2023," said Hu Xiaoming, Chairman and CEO of Kandi.
SC Autosports anticipates growing purchase orders from multiple customers in the near future.
Price Action: KNDI shares are trading higher by 1.49% at $2.30 on the last check Monday.
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