Kandi soars as subsidiary begins mass production of LFP batteries

Kandi Technologies

28/12/2021 14:08

** China-based EV maker's U.S. shares  KNDI.O  up 18.56% at
$3.96 - set for best day in over a year
    ** KNDI says wholly owned subsidiary Huiyi entered mass
production of its lithium iron phosphate (LFP) battery
    ** Co says its 18650-2200mAh has 10% higher energy capacity
than the 18650-2000mAh created in 2019 and is 22% higher than
the current industry average
    ** LFP batteries are known to be more economical, non-toxic,
provide better thermal stability and more sustainable compared
with widely used lithium-ion cells
    ** Up to last close, stock had fallen ~52% YTD

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com;))