Kandi Technologies Announces Plan to Launch the Public EV Sharing System Pilot
Project in Shanghai
JINHUA, China, April 14, 2014 (GLOBE NEWSWIRE) -- Kandi Technologies Group,
Inc. (the "Company" or "Kandi") (Nasdaq:KNDI), announced today that Mr. Jing
Ma, the Deputy Director of Electric Vehicles Development from the Shanghai
Municipal Commission of Economic and Information Technology, Standing
Committee member from Shanghai Jinshan District, along with the Vice Mayor of
Jinshan District, Mr. Huadi Shen, and other government officials visited Kandi
Electric Vehicles (Shanghai) Co., Ltd. ("Kandi Shanghai") to finalize the plan
to launch the Public EV Sharing System Pilot Project (the "Project") in
Jinshan District of Shanghai.
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Mr. Xiaoming Hu, General Manager of Kandi Electric Vehicles Group Co., Ltd.
(the "JV Company", which changed its name at the end of March from Zhejiang
Kandi Electric Vehicle Co., Ltd. to Kandi Electric Vehicles Group Co., Ltd
with approval from China State Administration of Industry and Commerce), Mr.
Jian Yang, Vice Chairman of Geely Automobile Holding Ltd., Mr. Jinliang Liu,
Vice President of the JV Company and Mr. Wei Yu, Vice President of the JV
Company, and General Manager of Kandi Shanghai together hosted the delegation
Mr. Jing Ma and his delegation visited Kandi Shanghai's production base where
they test drove two Kandi Brand Pure EVs—the SMA7000BEV and SMA7001BEV models.
Mr. Xiaoming Hu and Mr. Jian Yang presented Kandi Shanghai's plan to start the
project with the delivery of a targeted 3000-5000 Kandi Brand pure EVs by the
end of 2014. Mr. Jing Ma was satisfied with Kandi Shanghai that it had
completed the facility construction and launched the scaled production within
a short period. He affirmed Kandi's business orientation in applying the pure
electric vehicles to public transportation and the government's support for
Kandi's vision of bringing the public EV sharing system to Shanghai. Mr. Jing
Ma concluded his speech by saying that he will work on including the Project
in the government's priority list for the promotion of new energy vehicles in
Shanghai in order to provide Kandi with a government policy.
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 manufacturers 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.Kandi routinely posts important information on
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.
Ms. Kewa Luo
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