Chinese Battery & EV Manufacturer Kandi Technologies Eyes Market Share Growth In North American Market: Details
Portfolio Pulse from Lekha Gupta
Kandi Technologies Group Inc reported a Q3 FY23 sales increase of 8.2% Y/Y to $36.4 million. Gross margin expanded to 30.0% from 18.9% the prior year. Operating expenses rose to $14.5 million from $8.6 million in the same period of 2022. Net income was $1.3 million, an improvement compared to $1.1 million during the same period in 2022. The company's CEO stated that their primary focus for 2024 is to increase their market share in the North American market.
November 08, 2023 | 5:57 pm
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Kandi Technologies reported a positive Q3 FY23 with increased sales, gross margin, and net income. The company's focus on increasing its North American market share in 2024 could potentially drive future growth.
Kandi Technologies' positive Q3 FY23 results indicate a strong financial performance. The company's strategic focus on expanding its market share in the North American market, a major market for electric vehicles, could potentially drive future growth and positively impact its stock price.
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