Kandi reports USD11.6 million net loss for Q2 on 50.5% y/y drop in sales
Company’s JV Kandi Electric Vehicle’s net revenue down 83.3%
Kandi Technologies has reported net loss of USD11.6 million for the second quarter ended 30 June 2017 compared to net income of USD2.8 million a year earlier, the company said in a press release earlier this month. The company witnessed net loss as its net revenue fell almost by half to USD27.3 million. The sharp decline in revenue let to a record operating loss of USD3.3 million compared with USD2.4 million a year earlier.
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