Kandi Endorses Service Company’s Partnership With Yangtze Alliance to Promote Micro Public Transportation Program for Self-...
January 21 2016 - 9:07AM
Kandi Technologies Group, Inc. (the "Company" or "Kandi")
(NASDAQ:KNDI), today announced that Zhejiang ZuoZhongYou Electric
Vehicle Service Co., Ltd (the “Service Company” or “ZZY”) has
signed a strategic partnership memorandum with China (Yangtze River
Delta) High-speed Railway Tourism Alliance (“Yangtze Alliance”) to
provide hourly car rental services under the Micro Public
Transportation (“MPT”) program at railway stations within Yangtze
Alliance’s network. ZZY and Yangtze Alliance aim to jointly
establish a “Railway + MPT hourly rental” model to promote an
environmentally friendly alternative for tourists’ self-guided
trips. ZZY is a service company engaged in various pure electric
vehicle leasing business services. Kandi owns 9.5% of ZZY through a
wholly owned subsidiary.
Mr. Hu Xiaoming, Chairman and Chief Executive
Officer of Kandi, commented, “The partnership between ZZY and
Yangtze Alliance will significantly increase the number of MPT
stations within the regional high-speed railway tourism network,
while accelerating the adoption of electric vehicle hourly rental
services. We believe our unique Micro Public Transportation program
will receive further recognition and support, and its rapid
expansion will become one of Kandi’s key growth engines.”
Yangtze Alliance was formed on January 17, 2016 by
Shanghai Railway International Travel (Group) Limited, Zhejiang
Daily Media Group and Travel Times, with support from the Shanghai
Railway Bureau and the Tourism Administrations of Shanghai,
Jiangsu, Zhejiang and Anhui.
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.About Zhejiang ZuoZhongYou
Electric Vehicle Service Co., Ltd.Established in July
2013, Zhejiang ZuoZhongYou Electric Vehicle Service Co., Ltd.
(“ZZY”) is a service company engaged in various pure EV leasing
business services. Kandi Technologies Group, Inc.'s wholly owned
subsidiary, Zhejiang Kandi Vehicles Co., Ltd. owns 9.5% of
ZZY.Safe Harbor StatementThis 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_GroupCompany Contact:Ms. Kewa LuoKandi
Technologies Group, Inc.Phone: 212-551-3610Email:
IR@kandigroup.com
IR Contact:The Piacente
GroupPhone: 212-481-2050Email: kandi@tpg-ir.com
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