Kandi America Outlines Blueprint for U.S. Market Strategy, Unveils Innovative Micro Hub Dealership Concept
September 30 2020 - 1:17PM
Business Wire
CEO of country’s most affordable electric
vehicle brand joins Wall Street veteran for illuminating ‘fireside’
chat, provides first look at the future of dealer showrooms
Kandi America, the U.S. subsidiary of Kandi Technologies Group
Inc. (NASDAQ GS: KNDI), an international automotive manufacturer,
discussed the company’s U.S. market entrance strategy during a
September 29 fireside chat research series hosted by Water Tower
Research, a premier issuer-sponsored equity research and investor
intelligence platform.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20200930005827/en/
Kandi America unveils innovative micro
hub dealership concept. (Photo: Business Wire)
Kandi America CEO Johnny Tai joined Shawn Severson, Co-Founder
and President of Water Tower Research, to elaborate on Kandi’s
newly introduced electric vehicles (EVs), discuss the company’s
mission to make EVs affordable for all, and detail how the company
is building a sophisticated marketing and distribution network in
the United States.
“Water Tower Research is known on Wall Street as a strong ally
to investors, offering insights on the key strategies and outlooks
in the industries and companies they cover,” said Tai. “We believe
this conversation enabled us to more broadly share our vision of
creating an Auto EVolution for all.”
During the chat, Tai unveiled a preview of Kandi America’s
innovative micro hub showroom design. Requiring a minimum of only
2,000 square feet, the minimalistic showroom reflects the brand’s
core values by infusing tech-savvy and environmentally-friendly
elements throughout the design.
Featuring glass walls and long sight lines, Kandi’s open concept
showroom is designed to showcase the company’s affordable EV models
– the K23 and K27. A nod to the eco-friendly nature of electric
vehicles, each showroom will include a “living wall” of greenery to
both purify the air and provide sound insulation to create a more
intimate shopping experience. Additionally, Kandi showrooms will
feature two interactive kiosks to increase the efficiency of the
sales process.
“The look and feel of a Kandi America showroom will catch the
public off-guard,” said Tai. “Our futuristic showroom design
represents the next generation of car dealerships – where less is
more and the space embodies the brand’s look and feel. Most
importantly, a showroom that allows technology to guide the
process, leaving more time for the talented sales team to focus on
what they do best – closing the deal.”
While many traditional dealer partners require a significant
amount of showroom space, overhead and inventory, Kandi America’s
innovative micro hub model takes a slimmer approach by only
requiring space for one of each of its EV models and a service
area, allowing inventory to be housed off-site. This departure from
the traditional dealer partner model is designed to increase profit
margins for dealerships by minimizing overhead costs and
streamlining the customer acquisition process.
“It’s clear that the marketplace is hungry for a new spin on the
traditional dealership model,” said Brandon Ballard, Director of
Business Development for Kandi America. “Not only have we
experienced a surge in inquiries from interested dealers since
unveiling the micro hub concept earlier this month, consumer demand
remains strong as we continue to see the number of preorders rise
on a daily basis.”
In collaboration with its dealer partners, Kandi America will
also offer an auto-replenishment program to save space on the
allocated inventory of each model, as well as 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.
To view the recording of the online event entitled “A
Conversation with Chinese EV Leader Kandi on its Entry into the
U.S. Market,” visit
https://globalmeet.webcasts.com/starthere.jsp?ei=1375492&tp_key=2aafae1d4a.
To learn more and place a pre-order with a $100 fully refundable
deposit, visit Drive.KandiAmerica.com.
Prospective dealers looking to gain additional information on
how to become a Kandi America partner, including a pricing sheet
which details manufacturer incentives, can visit
http://dealer.kandiamerica.com.
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.
About Water Tower Research
The mission of Water Tower Research is to
bridge the information gap between companies and investors, while
reaching a much broader and diverse group of investors in
comparison to the traditional and challenged equity research model.
WTR provides “Research for the Other 99%®” on a platform powered by
Wall Street veterans who are knowledgeable and experienced. WTR
analysts help investors to understand key strategies, industries,
technologies, and drivers impacting companies under coverage, as
well as their peers. Water Tower Research uses a broad portfolio of
tools to communicate with investors, including a traditional
research platform, as well as innovative and proactive products and
digital strategies, thus providing valuable and consistent
information flow.
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.
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Media Contact: Allison Burum / Beth Rose
aburum@piercom.com / brose@piercom.com 214-392-5545 /
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