China's Science and Technology Minister Wan Gang Reinforces the Value and Importance of Kandi's Innovative Micro Public EV Ti...
December 23 2014 - 9:37AM
Kandi Technologies Group, Inc. (the "Company" or "Kandi")
(Nasdaq:KNDI), today announced that a seminar on China's innovative
electric vehicle business model for the public transportation was
hosted in Hangzhou on December 19. The top Chinese government
officials, and other environmental and transportation experts
including China's Science and Technology Minister Wan Gang attended
the event. The delegation group visited the headquarter of Kandi
Electric Vehicles Group Co., Ltd. (the "JV Company")*, and the
Micro Public EV Time-Sharing Program ("Car-Share Program")'s smart
vertical garage, one of the on-street parking/charging stations, as
well as the multimedia dispatching center.
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Mr. Hu Xiaoming, Chairman & CEO of Kandi provided a detailed
introduction on the new electric vehicle business model, the
Car-Share Program to the delegation group. At present, there were
9,850 Kandi Brand electric vehicles ("EVs") in total delivered in
Hangzhou. Zhang Genming, Mayor of Xihu District Government
addressed that Xihu District as the first to launch the Car-Share
Program in the nation has achieved a noticeable progress in
alleviating traffic congestions and would continue the effort to
promote and support the program. Furthermore, Zhang Hongming, Mayor
of Hangzhou, the researcher from Development Research Center of the
State Council, Zhang Yongwei, the Secretary of ChinaEV100, as well
as the senior officials and department leaders from Ministry of
Science and Technology, National Development and Reform Commission,
Ministry of Finance, Ministry of Industry and Information
Technology, Ministry of Transport and other experts also recognized
and acknowledged the success of the Car-Share business model.
Most importantly, Wan Gang, the Vice Chair of the National
Committee of the Chinese People's Political Consultative Conference
(CPPCC) & Minister of China's Science and Technology Ministry
reinforced the value and importance of Kandi's Car-Share business
model and said in his final remarks: "The Car-Share Program is
highly recognized. In order to increase the popularity of the
electric vehicle, the market shall be ready with the strong
infrastructure and government supporting policies. There are
enormous potential demands in the Car-Share Program in China. The
market growth today is driven by the business innovation, in my
opinion, the Car-Share Program will most likely transform the
market demand into the reality."
Kandi' s Car-Share business model has earned the recognition,
affirmation, and endorsement from all the government officials at
the seminar. With the government's guidance suggested, Kandi's
Car-Share business model as innovative public transportation role
model in China will have a great impact on development of EV
industry and urban public transportation in China.
* The JV Company is a 50/50 joint venture between Kandi and
Geely Automobile.
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 vehicle products.
Kandi has established itself as the one of the world's largest
manufacturers of pure electric vehicle ("EV") products, Go-Kart
vehicles, three-wheel motorcycles 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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