Electric vehicle manufacturer responds to influx of consumer interest ahead of August 18 launch event

Kandi America, the U.S. subsidiary of Kandi Technologies Group Inc. (NASDAQ GS: KNDI), an international electric vehicle manufacturer, today announced the opening of pre-order sales and special promotional pricing in advance of its official August 18 virtual launch event.

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Pre-orders for the K27 and K23 models can be made at www.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.

“Since announcing our market launch of K27 and K23 two weeks ago, we have received substantial interest in pre-ordering and being among the first to own a Kandi EV,” said Johnny Tai, CEO of Kandi America. “The Auto EVolution is well underway!”

Additionally, 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.

“We are dedicated to our mission of providing the most affordable electric vehicle for all Americans, regardless of their financial situation,” said Kewa Luo, Investor Relations Director of Kandi Technologies Group. “Through our pre-order and promotional pricing initiative, we are expanding access to environmentally friendly modes of transportation.”

Kandi America will unveil additional information to consumers, dealers and other stakeholders during its virtual launch event at 10 a.m. CST on August 18. Additionally, the company will host a giveaway during the event where one lucky winner will drive away with a K23 model (MSRP $29,999). To register for the event and giveaway, please visit www.DriveKandi.com. To learn more about Kandi K27/K23 and pre-order the vehicles, go to www.KandiAmerica.com.

Last week, Kandi America announced its plans for distribution and is seeking authorized dealer engagements and entertaining inquiries from dealerships across the U.S.

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 acquire 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