Kandi JV Company Enters Into Strategic Partnership With Pang Da
January 26 2016 - 9:31AM
Kandi Technologies Group, Inc. (the "Company" or "Kandi")
(NASDAQ:KNDI), today announced that Kandi Electric Vehicles Group
Co., Ltd. (the “JV Company”, a 50/50 Joint Venture between Kandi
and Geely Automobile Holdings Ltd.) has signed a Strategic
Cooperation Framework Agreement with Pang Da Automobile Trade Co.
Ltd. (“Pang Da”). The scope of the agreement includes, but is not
limited to, establishment of Kandi and Pang Da sales teams that
will share marketing resources, development of customized new
energy vehicle for use at campus, and additionally, Pang Da is
authorized to sell Kandi Brand pure electric vehicles (“EVs”) in
specific regions.
To view an enhanced version of the Kandi
& Pang Da Partnership Signing Ceremony, please
visit:https://orders.newsfilecorp.com/files/2079/19001_kandi1enhanced.jpg
Pang Da, listed on Shanghai Stock Exchange
(601258.SS), is China’s leading auto dealership, and has been
recognized as one of China’s Top 500 Enterprises. Pang Da began
selling Kandi Brand EVs in September 2015, and as of year-end 2015,
had sold more than 2,000 Kandi Brand EVs.
The executive management teams from Kandi and Pang
Da joined the signing ceremony in Beijing on January 22, 2016. The
attendees included Hu Xiaoming, Chairman and CEO of Kandi, Pang
Qinghua, Chairman of Pang Da, three representatives from Ssang Yong
China Co. Ltd.: Wang Zhihong, General Manager, Liu Bin, Vice
President and Gao Qingfeng, Assistant General Manager, Chen Ming,
Director of President Office of Kandi, Zheng Tianbao, Regional
General Manager of Pang Da Ssang Yong and Li Dianjun, Director of
Pang Da New Energy Department.
About Pang DaPang Da Automobile
Trade Co., Ltd. is primarily engaged in the distribution, repair
and maintenance of automobiles. The Company primarily sells and
provides services to sedan cars under brands including
Mercedes-Benz, Audi, Subaru, Ssang Yong, Brabus, and Volkswagen,
among others; trucks; mini-vans; agricultural vehicles;
construction machinery vehicles and commercial vehicles, among
others. In addition, the Company also involves in the distribution
of spare parts and the provision of after-sale services. Pang Da
operates business through its 4S shops and wholly owned
subsidiaries throughout China.
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 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_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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