Kandi Technologies Group Plans to Deliver Up to 5,000 Kandi Brand Electric Vehicles in Chengdu City
December 29 2014 - 09:15AM
Kandi Technologies Group, Inc. (the "Company" or "Kandi")
(Nasdaq:KNDI), today announced that Kandi Electric Vehicles Group
Co., Ltd.* (the "JV Company"), Dongchuang Jianguo Auto Group
("E-Kingo"), a well-known local car dealer, and ZuoZhongYou
(Chengdu) Electric Vehicle Service Co., Ltd. ("ZZY-Chengdu"), a
leasing company signed a strategic cooperation agreement for the
sale and lease of a total of 5,000 Kandi brand electric vehicles
("EVs") in Chengdu at the EV launching ceremony on December 28.
According to the agreement, E-Kingo will sell the EVs to
ZZY-Chengdu at the discounted price that reflects the deduction of
the local subsidy and ZZY-Chengdu will be in charge of the overall
EV leasing operations. Given the success of 1,000 Kandi brand EVs
delivery in the fourth quarter, 4,000 EVs are expected to be
delivered in Chengdu by the end of 2015.
* 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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