Kandi Technologies Stock Surged Over 5% In Pre-Market Today – And There’s A CATL Angle
Synopsis
The deal makes Kandi’s subsidiary the new hardware supplier within CATL’s fast-growing battery swap network in China.
Kandi Technologies Group Inc. (KNDI) announced Tuesday that its subsidiary, China Battery Exchange (Zhejiang) Technology Co., has signed a framework agreement with lithium-ion battery giant Contemporary Amperex Technology Co. (CATL).
The deal makes Kandi’s subsidiary the new hardware supplier within CATL’s fast-growing battery swap network in China. It also secures China Battery Exchange’s participation in CATL’s expansive ‘Ten Thousand Station Plan.’
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