Most affordable electric vehicle brand evolves traditional dealership model

Kandi America, the U.S. subsidiary of Kandi Technologies Group Inc. (NASDAQ GS: KNDI), an international automotive manufacturer, today announced the creation of a micro hub showroom designed to increase profit margins for dealerships by minimizing overhead costs and streamlining the customer acquisition process.

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Kandi America announces the creation of a micro hub showroom designed to increase profit margins for dealerships. (Photo: Business Wire)

“We’ve already received positive feedback on this micro hub showroom concept from several national auto groups, particularly praising our focus on their profitability,” said Rachel Krevat, Director of Client Relations for Kandi America. “As we bring America’s most affordable EV to the U.S. market, we are also ushering in a new way for manufacturers and dealerships to interact that creates a win-win situation for both parties.”

Traditional dealer partners require a significant amount of showroom space, overhead and inventory, which creates a large financial burden and lower profitability for the dealership. Kandi America will take a slimmer approach and only require space for one of each of its EV models and a service area.

This micro hub concept will allow dealer partners to save on showroom costs and house the additional inventory in a separate storage area. Additionally, Kandi America will utilize a replenishment program so dealer partners can save space on the allocated inventory of each model.

“Since hosting our virtual launch event in August, we’ve received a significant amount of interest from dealers around the country that want to help us bring these cars to the U.S. market,” said Johnny Tai, CEO of Kandi America. “Because we are beginning the Auto EVolution, we are striving to do things differently – including how we interact and engage with our distribution network.”

In collaboration with its dealer partners, Kandi America will also offer a no-haggle pricing policy for consumers that simplifies the buying experience and builds trust between the manufacturer, dealership and customer. Kandi America is currently preparing to begin fulfillment and distribution plans in late Q4 2020.

Prospective dealers looking to gain additional information on how to become a Kandi America partner can visit KandiAmerica.com/dealer-inquiry.

About Kandi America

SC Autosports, LLC is the U.S. subsidiary of Kandi Technologies Group, Inc. (NASDAQ GS:KNDI), doing business under the name “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.

Allison Burum / Beth Rose aburum@piercom.com / brose@piercom.com 214-392-5545 / 214-499-4820

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