Kandi America Launches Powersports Division, Expands Electric Footprint
March 24 2021 - 10:27AM
Business Wire
Kandi America, the U.S. subsidiary of Kandi
Technologies Group Inc. (NASDAQ GS: KNDI), an international
automotive and powersports manufacturer, today announced the
formation of a dedicated product division – known as Kandi
Powersports – to focus exclusively on bringing Kandi’s unique
combination of industry knowledge, cutting edge technologies, and
expertise across manufacturing and electric to the powersports
market.
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the full release here:
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The Trail King electric bike from Kandi
Powersports. (Photo: Business Wire)
“Powersports is in our DNA, and by harnessing the technology and
innovation Kandi is known for internationally, we are well
positioned to build on the success we have experienced in
automotive and expand our focus to not only compete but be a
recognized leader in powersports,” said Johnny Tai, CEO of Kandi
America.
As part of its longer-term growth strategy, Kandi conducted the
strategic acquisition of SC Autosports in 2018. With an established
powersports dealer network intact, significant interest has already
been received from existing dealers eager to carry Kandi
Powersports.
“With the synergy of electric expertise and an established
dealer network, we believe Kandi will be a household brand in
powersports. And the timing is great as interest from outdoor and
recreational enthusiasts will only continue to grow as they seek
sophisticated yet affordable products that are also good for the
environment,” said Tai.
The first products to market include electric ATVs and electric
bikes, with additional models to be added over time. In addition, a
selection of gas-powered models will be available to support Kandi
dealers and keep them competitive while consumer demand for
electric continues to grow.
Earlier this month, Kandi America announced a substantial
investment made to relocate its corporate headquarters from Garland
to a premier location near the intersection of U.S. Highway 75 and
Forest Lane that will feature a dedicated area for test drives.
Located at 8050 Forest Lane, the 54,372-square-foot building sits
on a 5-acre lot and will house Kandi America’s corporate offices,
including its Kandi Automotive and Kandi Powersports divisions, as
well as a show room and distribution center.
About Kandi America
Kandi America is the U.S. subsidiary of Kandi Technologies
Group, Inc. (NASDAQ GS:KNDI). Headquartered in Dallas, Texas, Kandi
America is primarily engaged in the wholesale distribution of
off-road vehicle products and electric vehicles. Since 2008, Kandi
Technologies has been publicly traded on the Nasdaq Stock Exchange
under the symbol KNDI. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210324005627/en/
Bryan Grissom news@kandiamerica.com
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