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Look out Tesla, there's a new kid in town.

June 17, 2013: 11:04 AM ET

Chinese electric vehicle maker has ambitious plans to start selling 5,000 to 10,000 vehicles in the next year or so.

Electric cars are becoming all the rage. And this time, it's not about Tesla.

Chinese electric vehicle maker Kandi Technologies (KNDI) has been moving ahead with an aggressive plan to bring 5,000 to 10,000 electric vehicles to market in the next year or so.

And Kandi's stock has nearly doubled since June 1. Seems like it's not just Americans who are enamored with the idea of 'plug and drive.'

StockTwits traders sure like what they're hearing.

$KNDI Plans to Deploy 5000-10000 Pure EVs in Hangzhou for Initial Launch of Public EV Sharing Sys / WATCH $ECTY

Kandi has already started work on its first parking and charging station fully dedicated to electric vehicles in Gudang Technology Park. That's the first step in a five-year plan to create a mini public transport hub, which would include up to 100,000 electric vehicle rentals.

$KNDI looking more & more like China's $TSLA. At least that's what traders think. $KNDI up 12% pre-market on plan for new charging stations.

If you thought 12% was good, the stock more than doubled that when trading opened and is now up about 22%. Lamonicabuzz, you hit the nail on the head with the Tesla comparison.

Related: 9 questions for Elon Musk

Shares of Tesla (TSLA) have surged more than 200% so far this year, and Kandi is catching up.

$KNDI just hesitant about chasing it.. Bullish

Fair enough. But if you make electric vehicles, can your stock still overheat? Probably, but it's clear from the strong sales of Tesla's Model S that there is a strong appetite for electric cars.

$KNDI Quarterly Changes to the NASDAQ Golden Dragon China Index

That's an extra dose of good news for Kandi. The index is designed to offer investors access to companies that offer "unique economic opportunities" in China. Kandi joins the likes of LDK Solar (LDK), JA Solar (JASO ) and China Ming Yang Wind Power (MY).

I'm sensing a clean energy theme here.

$KNDI free licence plate if buy an EV in china, or price of license for gas car is $12k in china

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Catherine Tymkiw
Catherine Tymkiw
News Editor CNNMoney

Catherine Tymkiw is a news editor at CNNMoney where she helps oversee breaking news coverage and futures planning. Previously, she was the investing editor. Prior to joining CNNMoney, she was the online editor at Crain's New York Business and has nearly two decades of reporting and editing experience. She tweets @ctymkiwcnn

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