Kandi Pure EV Model K27 is Included on China’s Approved Directory of Purchase Tax Exemption for New Energy Vehicles
November 01 2017 - 8:37AM
Kandi Technologies Group, Inc. (NASDAQ GS:KNDI) (the "Company" or
"Kandi") today announced that according to public Notice No. 46
issued by China’s Ministry of Industry and Information Technology
(“MIIT”) and State Administration of Taxation (“SAT”) promulgated
on October 30, 2017, Geely Brand Electric Vehicle (“EV”)
SMA7001BEV40 (Model K27), developed by Kandi Electric Vehicles
Group Co., Ltd. (the "JV Company", a 50/50 joint venture between
Kandi and Zhejiang Geely Holding Group),”was listed on the
thirteenth approved directory of New Energy Vehicles. As a result,
the Model K27 is now qualified for a purchase tax exemption.
Mr. Hu Xiaoming, Chairman and CEO of Kandi,
commented, “Kandi’s Model K27 is an upgraded model based on the
model K17. Equipped with an advanced drive motor, its motor power
has increased by 6kW compared to the model K17 and its energy
consumption reduced by 5-10%, resulting in improved speed
acceleration and stabilization for the vehicle’s performance. A
number of innovative features are added to the Model K27, such as
engine start/stop button, user remote control over vehicle
software, remote monitoring, in-vehicle 4G Internet access,
Controller Area Network (CAN) and event data recorder. Equipped
with the most advanced technologies available today, the Model K27
has fascinated customers even before its official launch. We are
very pleased that the Model K27 is in the tax exemption approved
directory of New Energy Vehicles because it will benefit from the
extra incentive for potential customers. We look forward to seeing
the positive impact this will have on K27 sales.”
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. Kandi conducts its primary business
operations through its wholly-owned subsidiary, Zhejiang Kandi
Vehicles Co., Ltd. (“Kandi Vehicles”), and the partially and
wholly-owned subsidiaries of Kandi Vehicles.
More information can be viewed at the Company's corporate
website at http://www.kandivehicle.com. The Company 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.
Follow us on Twitter: @ Kandi_Group Company Contact:
Ms. Kewa Luo Kandi Technologies Group, Inc. Phone:
1-212-551-3610 Email: IR@kandigroup.com
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