Kandi Pure EV Model EX3, K23 Included In China’s Approved Directory Of Purchase Tax Exemption For New Energy Vehicles
September 20 2018 - 9:05AM
Kandi Technologies Group, Inc. (the “Company,”
“we” or “Kandi”) (NASDAQ GS: KNDI), announced today that according
to Public Notice No. 45 issued by China’s Ministry of Industry and
Information Technology (“MIIT”) and State Administration of
Taxation (“SAT”) promulgated on September 17, 2018, Geely Brand
Electric Vehicle (“EV”) SMA7001BEV49 (Model EX3) and SMA7001BEV47
(Model K23), developed by Kandi Electric Vehicles Group Co., Ltd.
(the "JV Company" - a 50/50 joint venture between Kandi and Geely
Group (Ningbo) Ltd.) was listed in the twentieth approved directory
of New Energy Vehicles. As a result, the Model EX3 and K23 are now
qualified for purchase tax exemption.
Mr. Hu Xiaoming, Chairman and Chief Executive
Officer of Kandi commented: “we are very pleased that the Model EX3
and K23 are included in the approved directory of purchase tax
exempted new energy vehicles. These two EV models met all the sale
requirements after obtaining approvals from MIIT for Directory of
New Products, Recommended Models for New Energy Vehicles and the
Tax Exemption Directory. We believe the Model EX3 and K23 will be
the engine that propels Kandi’s growth going forward.”
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”),
SC Autosports, LLC – previously Sportsman Country, LLC
(“Autosports”), 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 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:
1-212-551-3610Email: IR@kandigroup.com
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