Electric cars in the US are about to become a lot cheaper

As of 2019, electric cars are less expensive to run than comparable internal combustion engine cars due to the lower cost of maintenance and energy, but cost more to buy new. This may be about to become a lot cheaper too.

Chinese electric vehicle maker Kandi Technologies announced that it will launch two car models in the United States next month. After the announcement, the company's shares rose as much as 350%, according to Market Insider.

On Wednesday, Kandi America, the U.S. subsidiary of the Chinese company and which now competes with Tesla, said customers could make deposits of $ 100 for its models, the K27 and K23, starting August 18. This deposit is fully refundable.

The company said the vehicles would be ready for delivery starting in the fourth quarter of 2020.

Kandi's cars cost much less than the models offered by Tesla. The company announced that its compact K27 model will retail for $ 12,999, while the larger K23 model will retail for $ 22,499.

On the other hand, Tesla's Model 3, its lowest-priced vehicle, sells for $ 31,690.

Electric cars have been signalled to be a much better option regarding both personal finances and the environment, but the purchase cost was much higher than a regular car. With cheaper prices on the market, this may be the ideal moment to seriously take into account this option.

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