Kandi Technologies Announces Plan to Launch the Public EV Sharing System Pilot Project in Shanghai
April 14 2014 - 8:35AM
Kandi Technologies Group, Inc. (the "Company" or "Kandi")
(Nasdaq:KNDI), announced today that Mr. Jing Ma, the Deputy
Director of Electric Vehicles Development from the Shanghai
Municipal Commission of Economic and Information Technology,
Standing Committee member from Shanghai Jinshan District, along
with the Vice Mayor of Jinshan District, Mr. Huadi Shen, and other
government officials visited Kandi Electric Vehicles (Shanghai)
Co., Ltd. ("Kandi Shanghai") to finalize the plan to launch the
Public EV Sharing System Pilot Project (the "Project") in Jinshan
District of Shanghai.
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Mr. Xiaoming Hu, General Manager of Kandi Electric Vehicles
Group Co., Ltd. (the "JV Company", which changed its name at the
end of March from Zhejiang Kandi Electric Vehicle Co., Ltd. to
Kandi Electric Vehicles Group Co., Ltd with approval from China
State Administration of Industry and Commerce), Mr. Jian Yang, Vice
Chairman of Geely Automobile Holding Ltd., Mr. Jinliang Liu, Vice
President of the JV Company and Mr. Wei Yu, Vice President of the
JV Company, and General Manager of Kandi Shanghai together hosted
the delegation group.
Mr. Jing Ma and his delegation visited Kandi Shanghai's
production base where they test drove two Kandi Brand Pure EVs—the
SMA7000BEV and SMA7001BEV models. Mr. Xiaoming Hu and Mr. Jian Yang
presented Kandi Shanghai's plan to start the project with the
delivery of a targeted 3000-5000 Kandi Brand pure EVs by the end of
2014. Mr. Jing Ma was satisfied with Kandi Shanghai that it had
completed the facility construction and launched the scaled
production within a short period. He affirmed Kandi's business
orientation in applying the pure electric vehicles to public
transportation and the government's support for Kandi's vision of
bringing the public EV sharing system to Shanghai. Mr. Jing Ma
concluded his speech by saying that he will work on including the
Project in the government's priority list for the promotion of new
energy vehicles in Shanghai in order to provide Kandi with a
government policy.
About Kandi Technologies Group, Inc.
Kandi Technologies Group, Inc. (Nasdaq:KNDI), headquartered in
Jinhua, Zhejiang Province, is engaged in the research and
development, manufacturing and sales of various vehicles. Kandi has
established itself as the one of the world's largest manufacturers
of pure electric vehicles (EVs), Go-Kart vehicles, and tricycle and
utility vehicles (UTVs), among others. More information can be
viewed at its corporate website is
http://www.kandivehicle.com. Kandi routinely posts important
information on its website.
Safe Harbor Statement
This press release contains certain statements that may include
"forward-looking statements." All statements other than statements
of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involving known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including the risk factors discussed in the Company's
periodic reports that are filed with the Securities and Exchange
Commission and available on the SEC's website (http://www.sec.gov).
All forward-looking statements attributable to the Company or
persons acting on its behalf are expressly qualified in their
entirety by these risk factors. Other than as required under the
securities laws, the Company does not assume a duty to update these
forward-looking statements.
CONTACT: Kandi Technologies Group, Inc.
Ms. Kewa Luo
Phone: 1-212-551-3610
Email: IR@kandigroup.com
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