Kandi rolls out America’s most affordable EVs – models K23 and K27 – with special promotion

Kandi America, the U.S. subsidiary of Kandi Technologies Group, Inc. (NASDAQ GS: KNDI), an international electric vehicle manufacturer, today announced the initial success of its live virtual launch event of the K27 and K23 held yesterday, which validates the need in the U.S. for Kandi’s affordable electric vehicles (EVs).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200819005589/en/

Kandi America announces the initial success of its live virtual launch event of the K27 and K23 held yesterday, which validates the need in the U.S. for Kandi’s affordable electric vehicles (EVs). (Photo: Business Wire)

Nearly 11,000 potential buyers registered for the event, which was widely attended by tens of thousands of people across each of the 50 states and around the world. As of 11 a.m. CT this morning, merely 24 hours after the live virtual launch, Kandi America has received 436 pre-order reservations for the newly launched models, and the number is expected to increase further based on the level of interest received from consumers wanting to own a Kandi EV.

The complete event recording is available for viewing on YouTube.

“This virtual event was a market test for bringing Kandi EVs to the U.S. The success of the event strengthens our confidence in the North American market,” said Johnny Tai, CEO of Kandi America. “Based on these growing sales, we will launch a series of events to enhance brand awareness of our EVs in the U.S. We thank all the event attendees, and will embrace their suggestions and constructive feedback to further drive our U.S. expansion plans.”

At the event, viewers were also introduced to Kandi’s partners, including Wrench, which provides a mobile vehicle maintenance and repair service to Kandi EV drivers that is typically reserved for luxury vehicle owners. In addition, Northpoint Commercial Finance will support Kandi dealer partners with inventory financing.

The winner of the “Kandi Auto EVolution for All Giveaway” was announced at the event’s conclusion from a pool of nearly 11,000 that registered. The Mississippi resident will be among America’s first to drive a Kandi K23.

Kandi is offering a special promotion for the first 1,000 pre-orders for each model. Originally priced at $19,999 MSRP, the K27 is now listed as $17,499. The K23 is discounted from $29,999 MSRP to $27,499. With the $7,500 federal tax credit, this brings the prices down to just $9,999 and $19,999 respectively for eligible buyers.

Nationwide pre-orders can be made at Drive.KandiAmerica.com by submitting a fully-refundable $100 deposit to secure the order. The vehicles will be available for delivery starting in the fourth quarter of 2020. Prospective dealers looking to gain additional information on how to become a Kandi America partner can visit KandiAmerica.com/dealer-inquiry.

For additional information about Kandi America, its vehicles and how to become a dealer partner, visit KandiAmerica.com.

About Kandi America

SC Autosports, LLC is the U.S. subsidiary of Kandi Technologies Group, Inc. (NASDAQ GS:KNDI), DBA “Kandi America”. Headquartered in Garland, Texas, Kandi America is primarily engaged in the wholesale of off-road vehicle products and distribution of electric vehicles. Since 2008, Kandi Technologies has been publicly traded on the Nasdaq Stock 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.

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.

Jennifer Powell / Megan Frye jpowell@piercom.com / mfrye@piercom.com 972-567-3937 / 214-499-4820

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