Kandi Technologies Completed China's First Full Scale Production and Assembly Line Specialized for Pure Electric Vehicles

Kandi Technologies Completed China's First Full Scale Production and Assembly
Line Specialized for Pure Electric Vehicles

JINHUA, China, April 3, 2013 (GLOBE NEWSWIRE) -- Kandi Technologies Group,
Inc. (the 'Company' or 'Kandi') (Nasdaq:KNDI), a leading Chinese manufacturer
and developer of pure electric vehicles (EVs) and all-terrain vehicles (ATVs),
announced today that its wholly owned subsidiary Kandi Electric Vehicles
(Changxing) Co., Ltd. ("Kandi Changxing") has completed a full scale pure EV
production and assembly line in the Changxing Economic Development Zone of
Zhejiang Province and started production. It is the first full scale
production and assembly line specialized for pure EVs in China, which includes
all major manufacturing processes for general assembly of EVs. The annual
production capacity for the first phase is expected to reach 100,000 units.
The completion for production of this project will not only increase Kandi's
current production capacity for pure EVs, but also accelerate the EV's
industrialization process.

The leaders and representatives from National Energy Vehicles Key Project
Office, Economic and Information Commission of Zhejiang Province, Huzhou
Municipal City and ChangXing County attended the completion for production
ceremony and delivered speeches on the success of the production line at Kandi
Changxing.

(To view an image of the ceremony and production line, please visit:
http://orders.newsfilecorp.com/files/2079/4818_kandi2.jpg)

This new production line combines the advanced production equipment and
manufacturing technologies. It also integrates the robust manufacturing
concepts and experiences of Kandi technologies and its JV partner, Geely Auto.
Through its scientific management of planning, production, logistics, and
quality assurance, it brings the EV production to a generalized, standardized
and lightweight-aimed process which leads to be more efficiency, more
accuracy, as well as more environmental friendly.

Mr. Hu Xiaoming, Chairman of Kandi remarked, "With the unprecedented
enthusiasm and unwavering support from all levels of government leaders, Kandi
Changxing will take full advantage of the technology strengths and expertise
of Kandi/Geely Auto in the EV area to develop pure electric vehicles that
consumers can afford to buy and drive while adopting practical business models
to provide reliable and convenient services to our customers. Carrying the
great expectation as well as the social responsibility, we are confident that
Kandi will contribute its part in building the green economy in China."

Mr. Yang jian, Vice Chairman of Geely Automobile Holdings Limited
congratulates the completion of this new production and assembly line and
commented, "We have full confidence with our partnership with Kandi to further
expand in the electric vehicle market. With years of exploration, Geely has
accumulated rich experience and technological reserves in R&D and marketing of
electric vehicles. We believe that the pure electric vehicle industry will
witness a great prospect of remarkable growth in the future".

About Geely Automobile Holdings Limited

Geely Automobile Holdings Limited (Hong Kong Stock Exchange: 175) is engaged
in the research and development, production and sales of automobiles. Geely
has the capacity to produce 600,000 vehicles, engines and gearboxes per year.
Geely's pure electric vehicle project has received the national government's
support and was admitted on the 2012 List of Supported Projects for Technology
Innovation in New Energy Vehicle Industry by Ministry of Industry and
Information Technology of China (MIIT).

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, all-terrain vehicles (ATVs) 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.

CONTACT: Kandi Technologies Group, Inc.
        
         China:
         Email: IR@kandigroup.com
         Phone: 86-579-82239856
        
         U.S.A.:
         Email: IR@kandigroup.com
         Phone: 1-212-551-3610
 
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