Kandi Contracts to Sell 3,000 EVs to Rideshare Partner
January 28 2021 - 9:50AM
Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the “Company” or
“Kandi”) announced today that one of its subsidiaries, Kandi
Electric Vehicles (Hainan) Co., Ltd. (Kandi Hainan) signed a
contract to sell 3,000 model K23 electric cars to an operating
company in its ride-sharing alliance. The cars will be deployed in
the rideshare market by operator Zhejiang Ruiheng Technology
Company (“Zhejiang Ruiheng”). The sale is part of Kandi's rideshare
development program “ 300,000 government-accredited pure EVs within
5 years.”
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi,
commented, “After a lengthy process of preparation that
demonstrated the commitment of many parties, our rideshare
development program is now getting off the ground. We completed a
successful trial in Shaoxing and are now ready to start shipments
to the local operator as it starts its official launch. We are
excited to soon ship our model K23 outfitted with our proprietary
battery swap system. ”
Hu continued, “China's ride-share market is in urgent need of
compliance and electrification. Our EVs will be the solution with
value-added features. Our specially designed battery swap model
effectively avoids range anxiety by allowing EVs to swap batteries,
thus avoiding lengthy recharging cycles. This extends the driving
range and allows longer operating time, improving the efficiency of
operators. We are confident that the sales of our K23 model will
accelerate the growth of Kandi's whole EV value chain business.
”
About Kandi Technologies Group, Inc.
Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua
Economic Development Zone, Zhejiang Province, is engaged in the
research, development, manufacturing, and sales of various
vehicular products. Kandi conducts its primary business operations
through its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co.,
Ltd. ("Kandi Vehicles") and its subsidiaries including Zhejiang
Kandi Smart Battery Swap Technology Co., Ltd, SC Autosports, LLC (d
/ b / a Kandi America), the wholly-owned subsidiary of Kandi in the
United States and Fengsheng Automobile Technology Group Co., Ltd
(formerly known as Kandi Electric Vehicles Group Co., Ltd., the
“Affiliate Company”). And Vehicles has established itself as one of
China '
In 2013, Kandi Vehicles and Geely Group, China's leading
automaker, jointly invested in the establishment of the Affiliate
Company in order to develop, manufacture and sell pure electric
vehicle ("EV") products. Geely Group (including its affiliate) and
Kandi Vehicles currently holds 78% and 22% of the equity interests
in the Affiliate Company, respectively. The Affiliate Company has
established itself as one of the driving forces in the development
and manufacturing of pure EV products in China.
More information about KNDI is available on the Company's
corporate website at http://www.kandivehicle.com. The Company
routinely posts important information on its website.
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 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. 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.
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. the Company does not
assume a duty to update these forward-looking statements. 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. the Company does not
assume a duty to update these forward-looking statements. 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. 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. 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.
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. 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. 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.
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. 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. 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.
Follow us on Twitter: @Kandi_Group
Contacts:
Kandi Technologies Group, Inc. Ms. Kewa Luo +1 (212) 551-3610
IR@kandigroup.com
The Blueshirt Group
Mr. Gary Dvorchak, CFA gary@blueshirtgroup.com
Kandi Technolgies (NASDAQ:KNDI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Kandi Technolgies (NASDAQ:KNDI)
Historical Stock Chart
From Apr 2023 to Apr 2024