Kandi Technologies’ Next-Gen All-Electric Crossover Vehicles Enter Mass Production
August 22 2023 - 8:25AM
Kandi Technologies Group, Inc. (“Kandi” or “the Company”) (NASDAQ
GS: KNDI), today announced that on August 18, 2023, its next
generation all-electric crossover models, 1124 and 1124A, have
officially entered mass production at the Hainan facility. These
two new models, developed over a year and a half at the Hainan
base, are set to be launched in the third quarter of this year.
Kandi's all-electric four-wheel crossover
vehicle, crafted and manufactured at the Hainan facility, has
garnered impressive sales since its introduction in 2022. This
success can be attributed to its captivating design, offering a
fresh and enticing appeal, as well as its comfort-oriented
automotive-grade chassis and exceptional handling capabilities.
M1124 2+2 Crossover Vehicle (left); M1124A 4-Seat
Forward-Facing Crossover Vehicle (right)
With a steadfast commitment to meeting
international benchmarks for each product delivered to global
customers, the Company has maintained its dedication to autonomous
development and pioneering technology. This commitment is
underscored by the successive creation of various models, such as
the 1204, 1205, and 1124. Notably, in 2022, the 1204 series
accomplished significant triumphs in overseas markets, asserting
its position as the premier imported product within the U.S.
segment.
Dr. Xueqin Dong, CEO of Kandi commented, “We are
delighted to announce the commencement of formal mass production
for the two new models. They are projected to achieve an annual
sales volume of over ten thousand units after launch. We believe
that the 1124 series will become another flagship product for
Kandi, joining the recently launched all-electric dual-motor
four-wheel-drive UTV, thereby further elevating the Kandi brand and
driving efficiency gains.”
The upcoming 1124 series features advanced
technology, reliability, and outstanding performance. The vehicle's
overall design has been completely reimagined by American
designers, showcasing a dynamic appearance with exquisite textures.
It incorporates an automotive-grade chassis, the latest lithium
iron phosphate batteries, and optional solar panels. These features
provide not only enduring power but also reduce energy consumption
and emissions, thereby minimizing the need for frequent charging.
The models are also equipped with advanced EPS electric power
steering, automotive-grade three-point seat belts, a 10-inch
intelligent central touchscreen, reverse camera, and additional
storage space, all enhancing safety, travel efficiency, and the
user experience.
Team picture for 1124/1124A Mass Production on
August 18, 2023
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 Technologies Group Co., Ltd. (“Zhejiang Kandi Technologies”),
formerly, Zhejiang Kandi Vehicles Co., Ltd. and its subsidiaries
including Zhejiang Kandi Smart Battery Swap Technology Co., Ltd,
and SC Autosports, LLC (d/b/a Kandi America), the wholly-owned
subsidiary of Kandi in the United States, and its wholly-owned
subsidiary, Kandi America Investment, LLC. Zhejiang Kandi
Technologies has established itself as one of China's leading
manufacturers of pure electric vehicle parts and off-road
vehicles.
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.
Follow us on Twitter: @ Kandi_Group
Contacts:
Kandi Technologies Group, Inc.Ms. Kewa Luo+1
(212) 551-3610IR@kandigroup.com
The Blueshirt GroupMr. Gary Dvorchak,
CFAgary@blueshirtgroup.com
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