Kandi Technologies rises on joint China ridesharing venture

Kandi Technologies

26/10/2020 14:11

** Chinese EV parts maker's U.S.-listed shares  KNDI.O  rise
as much as 4.1% to $7.38
    ** Forms ridesharing co in China with partners Zhejiang
Ruibo New Energy Vehicle Service Co Ltd and Jiangsu Jinpeng
Group Ltd
    ** KNDI and Jiangsu will each own a 10% stake in the new co
and the rest by Zhejiang Ruibo  urn:newsml:reuters.com:*:nGNX92Zljt
    ** Says ridesharing firm, Zhejiang Ruiheng Technology Co, to
utilize a fleet of 300,000 govt-accredited EVs for service 
    ** KNDI says rideshare program to roll out in tier 3 and 4
cities in China, following initial pilot programs in Haikou and
Shaoxing cities this year
    ** YTD, KNDI up more than 53%

 (Reporting by Ankit Ajmera in Bengaluru)
 ((ankit.ajmera@thomsonreuters.com))