Jinhua, China - March 28, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the "Company" or "Kandi") today announced that Kandi Electric Vehicles Group Co., Ltd. (the "JV Company", a 50/50 joint venture between Kandi and Zhejiang Geely Holding Group) unveiled the all-electric SUV model Geely Global Hawk EX3 on March 26, 2018 at the launching ceremony in Hangzhou. Due to high demand, the number of registered dealers in attendance exceeded expectations. There were 100 dealers and 20 media attendees originally registered to come, but in fact, over 170 nationwide dealers and more than 30 media outlets attended the ceremony.
"Co-developed by Geely and Kandi, the new SUV model EX3 is designed to target highly motivated and dynamic young professionals. This vehicle is recognized as an All-Star Model of the JV Company. Though the EX3 is not yet in production, there has already been overwhelming requests from interested dealers," said presenter, Mr. Jin Yafeng, the Executive Vice President and Sales Manager of the JV Company.
The new EX3's front fascia gives a bold and modern look featuring a fighter jet style design. Its spacious and luxury interior delivers a combination of built-in quality, simplicity and elegance. Built on a zone-body construction (ZBC) with ABS+EBD, front row dual air bags, active tire pressure monitor, four parking sensors, rear row middle seatbelt, and other enhanced features, this vehicle is a big step forward when it comes to safety. It also includes a 12.3-inch touch screen multimedia information system with dual physical buttons available to accommodate Chinese customers' driving habits. The EX3 has 300km of driving range on a single full charge. Two options of express and regular charge are available. It goes 0-50 km/h in less than 6 seconds.
Following discussion and inquiry related to the EX3's production, the participating dealers expressed a great amount of interest in the model EX3 and felt very optimistic about its sales. The majority of dealers entered into a sales contract and paid the deposit.
Mr. Hu Xiaoming, Chairman and CEO of Kandi commented, "Global Hawk EX3 is a perfect fit in the growing SUV market and will become the growth drive expanding Kandi's product portfolio. The ceremony was very well received by the audience which strongly indicates confidence among the attending dealers and media. We believe that a wide variety of products paired with sophisticated product performance will create tremendous opportunities to expand our market share and increase the profitability of the JV Company."
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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