Chinese battery and electric car maker Kandi Technologies Group Inc said on Thursday it is actively exploring setting up an electric and off-road vehicle manufacturing plant in North America.
The U.S.-listed company said it is in the early stages of discussions with various partners, including local government agencies from the U.S.-Mexico border, but warned negotiations would not guarantee that a plant will be built.
Many Chinese electric vehicle (EV) makers are looking at the United States for expansion as demand for EVs picks up.
China’s Li Auto Inc, backed by food delivery giant Meituan Dianping, recently made a Nasdaq debut. Xpeng, backed by Alibaba and Xiaomi, filed for a U.S. listing in July.
The vehicles will be available for delivery from the fourth quarter of 2020.
In contrast, Tesla Inc’s best-selling Model 3 sedan is priced at around $37,990.