Texas Commission on Environmental Quality approves America’s most affordable EVs

Kandi America, the U.S. subsidiary of Kandi Technologies Group Inc. (NASDAQ GS: KNDI), an international automotive manufacturer, today announced it has received approval from the Texas Commission on Environmental Quality (TCEQ) to offer a $2,500 rebate for buyers purchasing each of its electric vehicle models – the K23 and K27.

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Kandi America is approved by the Texas Commission on Environmental Quality (TCEQ) to offer a $2,500 rebate for buyers purchasing its electric vehicles. (Photo: Business Wire)

Kandi recently announced its electric vehicles received the required clearance from the United States Environmental Protection Agency (EPA). Through this certification, Kandi’s EVs can officially enter into the U.S. market.

“We have made major progress towards our mission of making electric vehicles accessible for everyone,” said Johnny Tai, CEO of Kandi America. “Accessibility starts with price, and we are proud to bring America’s most affordable EVs to market. The additional $2,500 rebate in Texas is a great incentive to encourage consumers to consider switching to an EV.”

Through TCEQ’s Light-Duty Motor Vehicle Purchase or Lease Incentive Program (LDPLIP), eligible buyers in the state of Texas can apply for a $2,500 rebate when purchasing an EV. Only one rebate can be applied per Kandi vehicle and quantities are limited. Including the state incentive and $7,500 federal tax credit, buyers in Texas can own a Kandi EV for less than $8,000.

Kandi’s compact city driver, the K27, has an MSRP of $17,499. The combined $10,000 federal and state incentives reduce the price to just $7,499. The K23, Kandi’s SUV-style model, is regularly priced at $27,499, but eligible buyers can own one for only $17,499 with state and federal incentives.

To learn more and place a pre-order with a $100 fully refundable deposit, visit KandiAmerica.com.

Additional information on Texas LDPLIP rebates can be found on the TCEQ website.

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 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 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 / 214-683-3745