Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the "Company" or "Kandi") today announced that Geely Brand Electric Vehicle ("EV") SMA7000BEV20 (Model K22), developed by Kandi Electric Vehicles Group Co., Ltd. (the "JV Company", a 50/50 joint venture between Kandi and Geely Group (Ningbo) Ltd.), is listed on two approved directories. They are the 11th approved Directory of Recommended Models for Energy Saving and New Energy Vehicle Demonstration and Promotion, known as Public Notice No. 55, published by China's Ministry of Industry and Information Technology ("MIIT") on December 4, 2017 and the 14th approved Directory of Vehicle Purchase Tax Exemption for New Energy Vehicles, known as Public Notice No. 56 published by MIIT and State Administration of Taxation ("SAT") on December 5, 2017. As a result, the purchasers of Model K22 are now qualified to receive all levels of national and local subsidies and a purchase tax exemption.
Mr. Hu Xiaoming, Chairman and CEO of Kandi, commented, "we are very pleased about another Kandi vehicle Model K22 is included in the directories of recommended new energy vehicle and purchase tax exemption. The Model K22 is an upgraded model based on the Model K12. The inclusion in the two directories is an important step forward and will bring the positive impact on K22 sales."
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.
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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.
Email: [email protected]