Jinhua, China - May 23, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the "Company," "we" or "Kandi"), today announced the Geely Global Hawk electric vehicle ("EV") model SMA7000BEV20 (Model K22) and SMA7001BEV40 (Model K27) developed by Kandi Electric Vehicles Group Co., Ltd (the "JV Company", a 50/50 joint venture between Kandi and Geely Group (Ningbo) Ltd.) have been included in the Ministry of Industry and Information Technology of the People's Republic of China's (the "MIIT") Directory of Recommended Models for Energy Saving and New Energy Vehicle Demonstration and Promotion (the "Fifth Annual Directory of New Energy Vehicles") under the 2018 No. 24 public announcement. As a result, purchasers of these two approved 200-km EV models will be qualified to receive higher national and local subsidies.
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi commented, "We are very pleased to receive the MIIT's approval of the two advanced EV models with driving range that exceeds 200 kilometers. These two longer ranged vehicles have 145wh/kg batteries and qualify for higher subsidies. The increased variety in product offerings is expect to drive Kandi's EV sales growth."
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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Ms. Kewa Luo
Kandi Technologies Group, Inc.
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