Kandi Technologies Expects to Exceed 2015 EV Sales Target
January 12 2016 - 9:02AM
Kandi Technologies Group, Inc. (the “Company” or “Kandi”)
(NASDAQ:KNDI), today announced that Kandi Electric Vehicles Group
Co., Ltd. (the "JV Company"*) achieved strong sales of pure
electric vehicles (“EVs”) in 2015 and expects to exceed its
previously announced sales target for the full year 2015. The
Company anticipates the total number of EV sales to exceed the
previous guidance range of 20,000 to 22,000 EV products by 5% or
more. The Company plans to release audited financial results for
the fourth quarter and full year 2015 in March.
Mr. Hu Xiaoming, Chairman and Chief Executive
Officer of Kandi, commented, “The JV Company achieved record EV
sales in the fourth quarter. Given the robust growth in China’s EV
industry we anticipate the strong momentum in the sector to
continue in the next few years, which will substantially benefit
our business. The Kandi brand and Global Hawk brand pure electric
vehicles have been leading China’s market, and we are very
confident in maintaining our leadership position in 2016.”
* The JV Company is a 50/50 joint venture between
Kandi and Geely Automobile (“Geely”).
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.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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