JINHUA, China, Aug. 9, 2013 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the 'Company' or 'Kandi') (Nasdaq:KNDI), today announced that the construction of pure EV smart vertical parking and charging facilities for public EV sharing system (the 'Project') is right on schedule. According to the updated progress report, there will be five pure EV smart vertical parking and charging facilities completed in the coming September. By the end of 2013, 30-40 pure EV smart vertical parking and charging facilities are expected to be built in Hangzhou City. In a year from now, 5,000 to 10,000 Kandi pure EV 'JNJ6290EV' model and Kandi-Geely co-developed Brand 'JL7001BEV' will be deployed in Hangzhou City based on the progress.
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On August 8th, 2013, Mr. Dangqi Zhu, Mayor of Xihu District, Hangzhou City along with his delegation group: Executive Deputy Mayors of Xihu District Mr. Fei Tan and Mr. Weibing Zhou and other government officials of Xihu District visited Zhejiang Kandi Electric Vehicles Co., Ltd. ('the "JV Company") to check on the public EV sharing project. The second local government delegation's visit after Ms. Lihua Wang Party Secretary of Xihu District, Hangzhou City visited on July 24th, 2013.
Mayor of Xihu District, Mr. Dangqi Zhu and his delegation group visited the first pure EV smart vertical parking and charging facility, then came to the headquarter office of the JV Company in the district. Mr. Xiaoming Hu, the Chairman of Kandi & the General Manager of the JV Company provided a detailed introduction on the Hangzhou public EV sharing system and the progress updates. Mr. Hu is confident the 5,000-10,000 Kandi brand EVs will be deployed within a year.
During the meeting, Mr. Dangqi Zhu spoke highly of the project implementation and believed it will provide the citizens more convenient commuting environment. The project will also make urban transportation different. Mr. Zhu added in his final remarks, "our government will continue to provide the best support to Kandi to ensure the successful execution of the Hangzhou public EV sharing system. We hope Xihu District becomes a national model of "Green transportation, Intelligent China."
Mr. Xiaoming Hu expressed the appreciation for Mr. Zhu's visit and the delegation group's acknowledgment on the Project, commenting, "We are extremely confident to achieve the goal of "Green Transportation, Intelligent China" starting in Xihu District."
About Kandi Technologies Group, Inc.
Kandi Technologies Group, Inc. (Nasdaq:KNDI), headquartered in Jinhua, Zhejiang Province, is engaged in the research and development, manufacturing and sales of various vehicles. Kandi has established itself as the one of the world's largest manufacturer of pure electric vehicles (EVs), Go-Kart vehicles, and tricycle and utility vehicles (UTVs), among others. More information can be viewed at its corporate website is http://www.kandivehicle.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 securities laws, the Company does not assume a duty to update these forward-looking statements.
Kandi Technologies Group, Inc. China: Email: Phone: 86-579-82239856 U.S.A.: Email: Phone: 1-212-551-3610