Kandi Technologies Expands Micro Public Transportation Program to 16 Cities
January 11 2016 - 9:49AM
Kandi Technologies Group, Inc. (the “Company” or “Kandi”)
(NASDAQ:KNDI), today announced that the Micro Public Transportation
(“MPT”) program has expanded to 16 cities in China as of the end of
2015, exceeding the Company’s previous target of 15 cities. The
cities include Hangzhou, Shanghai, Chengdu, Nanjing, Guangzhou,
Wuhan, Changsha, Changzhou, Rugao, Kunming, Tianjin, Jinhua,
Chongqing, Haikou, Shenzhen and Xiangtan. The Company launched the
MPT program in the second half of 2013.
Mr. Hu Xiaoming, Chairman and Chief Executive
Officer of Kandi, commented, “The Micro Public Transportation
program is a unique business model specializing in the hourly
sharing and leasing of electric vehicles (EVs) as an extension of
public transportation, and is supported by the government’s
dedication to developing the EV industry and emerging cities in
China. We believe the expansion of the MPT program is one of the
key engines for Kandi’s future growth, which will further enhance
our competitive advantages in the EV market.”
About Micro Public Transportation
(“MPT”) Program
Kandi has been advocating, and through Zhejiang
ZuoZhongYou Electric Vehicle Service Co., Ltd. or through the
cooperation between Kandi Electric Vehicles Group Co., Ltd. (the
"JV Company") and the local business partners, implemented the
“Micro Public Transportation” program, or MPT program, which
provides a shared pure EV transportation platform that has not been
previously afforded to urban residents. It is a network system for
EV sharing and leasing as a model for public transportation to
alleviate traffic congestion. It also includes a variety of the
Long-term Group Leasing options, ideal for companies, government
entities and residential communities that lease at least 100 EVs on
an annual basis. As of the end of 2015, the MPT program had been
launched in sixteen cities, including Hangzhou, Shanghai, Chengdu,
Nanjing, Guangzhou, Wuhan, Changsha, Changzhou, Rugao, Kunming,
Tianjin, Jinhua, Chongqing, Haikou, Shenzhen, and Xiangtan.
About Kandi Technologies Group,
Inc.
Kandi Technologies Group, Inc. (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 one of China's
leading manufacturers of pure electric vehicle ("EV") products
(through its joint venture), EV parts and off-road vehicles. More
information can be viewed at the Company's corporate website at
http://www.kandivehicle.com. The Company routinely posts
importation 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.
Follow us on Twitter: @ Kandi_Group
Company Contact:
Ms. Kewa Luo
Kandi Technologies Group, Inc.
Phone: 212-551-3610
Email: IR@kandigroup.com
IR Contact:
The Piacente Group
Phone: 212-481-2050
Email: kandi@tpg-ir.com
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