Kandi’s First Three Pure Electric American Prototypes in Transit

Jinhua, Zhejiang Province, CHINA


JINHUA, China, July 02, 2018 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS:KNDI), announced today that the pure electric vehicle prototypes manufactured by Kandi Electric Vehicles Group Co., Ltd (the “JV Company”, a 50/50 joint venture between Kandi and Geely Group (Ningbo) Ltd.) completed inspection and were shipped in a freight container on June 29, 2018. Under normal circumstances, the vehicles are expected to be delivered to Dallas, USA in late July 2018.

Kandi Model EX3 and Model K22
To view an enhanced version of Kandi Model EX3 and Model K22, please visit:
http://orders.newsfilecorp.com/files/2079/35603_a1530531469269_38.jpg

After the JV Company and Sportsman Country, LLC. ("Sportsman") signed a Framework Sales Agreement on June 10, 2018; and after close collaboration, the two parties have gained great progress in product development, prototype preparation, and market research. The shipment to America includes two Model EX3 and one Model K22, in which the settings of charging ports and software system language of the user interface were upgraded from the original models to satisfy the need of the US market.    

Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi commented, "Recently, we have conducted a series of surveys regarding the consumers’ preference in pure electric vehicle products in the American market. The Company found that these two chosen pure electric vehicle models are substantially competitive in America. I am very pleased about the efficiency and diligence in our technical staff and US sales team in terms of preparation work. It only took our team under a month to complete the upgrades necessary to comply with US standards. The imported vehicle application under the applicable U.S. regulations will be undertaken immediately upon the arrival of the prototypes. We will continue our efforts to expand our US market."

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua, Zhejiang Province, is engaged in the research and development, manufacturing and sales of various vehicle products. Kandi has established itself as one of China's leading manufacturers of pure electric vehicle ("EV") products (through its joint venture), EV parts and off-road vehicles. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (“Kandi Vehicles”), and the partially and wholly-owned subsidiaries of Kandi Vehicles. 

More information can be viewed at 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 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.

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Company Contact:

Ms. Kewa Luo
Kandi Technologies Group, Inc.
Phone: 1-212-551-3610
Email: IR@kandigroup.com