Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”)
(NASDAQ GS: KNDI), today announced the formal launch of the most
affordable pure electric automobiles (EVs) in the U.S. market, the
Kandi K27 and K23 models. The cars will be sold by Kandi
America, the trade name of Kandi’s wholly owned subsidiary SC
Autosports, LLC. Sales will initially focus on the
Dallas-Fort Worth metroplex.
To support the launch, Kandi is unveiling a marketing campaign
entitled “Kandi. Auto EVolution for all” that centers
around a live virtual launch event on August 18 to kick-off
pre-sales. Customers can reserve their models K27 or K23 EVs
with a fully-refundable $100 deposit, which will be available for
delivery in the fourth quarter of 2020.
“Electric vehicles have been valued for years for their
efficiency, sustainability and innovation. However, owning the ‘it’
car often eluded consumers who desired a great EV alongside all the
other comforts of modern living. Kandi is changing that by
revolutionizing the EV-buying experience for many,” said Johnny
Tai, CEO of Kandi America. “Kandi’s mission is to make electric
cars accessible to all. With these first two models, we are
starting an Auto EVolution that will enable anyone, regardless of
their financial status, to afford a reliable, high-tech EV.”
Xiaoming Hu, Chairman of Kandi Technologies, added, “We are
excited to see this culmination of years of effort, the
introduction of new, exciting Kandi EVs into the US market.
Other EV peers have mainly served the high end of the market, while
Kandi has always had a vision to bring the benefits of EVs to the
mass market. We think our new K23 and K27 models will open a
new world of modern transportation to the vast U.S. middle class,
for whom EV choices have been scarce. We look forward to
welcoming new buyers to the Kandi customer family.”
The virtual launch will take place at 10 a.m. CST on August
18. Participants will engage in a meaningful experience
hosted by a surprise emcee, including an exclusive look at the
sleek design and advanced technology features of models K27 and
K23. Kandi will also conduct a live drawing, with the lucky
winner receiving a model K23. To be eligible for the
giveaway, participants must register for the event before midnight
CST on August 17.
Priced at $12,999 after federal tax credits, the K27 is a
compact model with ample interior space that can comfortably
accommodate up to four passengers. The car features a 17.69 kWh
Lithium battery and a driving range up to 100 miles, making it an
ideal automobile for urban driving.
For those in the market for a larger vehicle with more trunk
space, the K23 is an affordable option at $22,499 after federal tax
credits. The size of a small SUV, this model includes a 41.4 kWh
Ternary Lithium battery and a driving range of more than 180
miles.
To register for the virtual event, visit
www.drivekandi.com.
About Kandi America
SC Autosports, LLC is the U.S. subsidiary of Kandi Technologies
Group, Inc. (KNDI), doing business under the name “Kandi
America”. Headquartered in Garland, Texas, with support of
KNDI, Kandi America specializes in the development, manufacturing
and commercialization of electric vehicles, all-terrain vehicles,
battery packs, automobile motors, controllers for electric
vehicles, and air-conditioning systems. Since 2008, Kandi
Technologies has been publicly traded on the Nasdaq exchange under
the symbol KNDI. Kandi Technologies acquired SC Autosports in
2018 to be its exclusive U.S. distributor. For more information,
visit www.kandiamerica.com.
About Kandi Technologies Group, Inc.
Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua
Economic Development Zone, Zhejiang Province, is engaged in the
research, development, manufacturing, and sales of various
vehicular products. Kandi conducts its primary business operations
through its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co.,
Ltd. ("Kandi Vehicles") and its subsidiaries, SC Autosports,
LLC(d/b/a Kandi America), the wholly-owned subsidiary of Kandi in
the United States and Fengsheng Automobile Technology Group Co.,
Ltd (formerly known as Kandi Electric Vehicles Group Co., Ltd., the
“Affiliate Company”). Kandi Vehicles has established itself as one
of China's leading manufacturers of pure electric vehicle parts and
off-road vehicles.
In 2013, Kandi Vehicles and Geely Group, China's leading
automaker, jointly invested in the establishment of the Affiliate
Company in order to develop, manufacture and sell pure electric
vehicle ("EV") products. Geely Group (including its affiliate) and
Kandi Vehicles currently holds 78% and 22% of the equity interests
in the Affiliate Company, respectively. The Affiliate Company has
established itself as one of the driving forces in the development
and the manufacturing of pure EV products in China.
More information about KNDI is available on 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
applicable securities laws, the Company does not assume a duty to
update these forward-looking statements.
Follow us on Twitter: @ Kandi_Group
Event Media Contact:
Pierpont Communications
Ms. Jennifer Powell Phone: +1 (972)
567-3937 Email: jpowell@piercom.com
Ms. Megan FryePhone: +1 (214) 499-4820Email:
mfrye@piercom.com
For More Information:
Kandi Technologies Group, Inc.
Ms. Kewa LuoPhone: +1 (212) 551-3610Email: IR@kandigroup.com
The Blueshirt Group
U.S.:Mr. Gary DvorchakEmail: gary@blueshirtgroup.com
China:Ms. Susie Wang Email: susie@blueshirtgroup.com
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