Touted as a legitimate competitor to Tesla Motors by some, recognized as a glorified golf cart assembler by many, the Kandi Car Company [that name, SMH, ticker $KNDI] is allegedly being ordered to halt production and suspend sales of eight, I said eight, of their branded cars. This rumor is being spread by the newsletter pumpers at GeoInvesting [link not found] that somehow made its way onto the news wires.
The Chinese government is bearing down on Kandi cars ahead of the New Year, in hopes of cleansing their republic of this bedraggled excuse of a car company.
Shares of KNDI are down more than -40% over the last year. Let this be a lesson to all of you—you don’t dabble in electric wheels and come out alive. Elon (all Praise and Glory to The Leader) will work incessantly, and he will destroy you.
Aside–a great man (Henry Ford) once said, “You can have the Model T in any color you want, as long as it’s black.” The moral is clear—keep your product line simple and mass produce it. How has Kandi amassed 8 different models? They’re like the Alibaba of cars.
As for this rumor, and the short-sellers behind it, take it with a grain of salt.
Overall–BEARISH
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The electric car space has gotten a lot more lively these past few years. Good times.