Kandi Pure EV Models EX3 and K22 Qualify for Full $7,500 U.S. Federal Tax Credit
October 03 2018 - 8:33AM
Kandi Technologies Group, Inc. (the “Company,”
“we” or “Kandi”) (NASDAQ GS: KNDI)’s 100% owned subsidiary SC
Autosports, LLC announced today that Kandi Pure EV Models EX3 and
K22 continue to make significant progress in the American
marketplace. Both models have received the written acknowledgement
of eligibility for credit and the amount of the qualifying credit
from Department of the Treasury of Internal Revenue Service for the
New Qualified Plug-in Electric Drive Motor Vehicle Credit (the
“Credit”) effective immediately. According to Internal Revenue Code
Section 30D, manufacturers must provide appropriate information to
be eligible for the Credit. Kandi has completed the entire
application process. As a result, a purchaser of 2019 Kandi Models
EX3 and K22 electric vehicles in America may claim the Credit of up
to $7,500.00 during the tax year under Internal Revenue Code
Section 30D.
For more information about the tax credit, please
visit
https://www.irs.gov/businesses/corporations/30d-new-qualified-plug-in-electric-drive-motor-vehicles-kandi-zhejiang-kangdi-vehicles-co-ltd.
Mr. Hu Xiaoming, Chairman and Chief Executive
Officer of Kandi commented: “The pure electric vehicle market in
the United States is full of potential. Following the approval of
federal tax credit, Kandi’s EV products have become more
competitive in both price and quality. I am confident that SC
Autosports will successfully grow the EV business in addition to
the powersports business.”
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, 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.
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Contact:
Ms. Kewa LuoKandi Technologies Group, Inc.Phone:
1-212-551-3610Email: IR@kandigroup.com
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