JINHUA, CHINA, August 20, 2020 (GLOBE NEWSWIRE) – Kandi Technologies Group, Inc. (the “Company”, “we” or “Kandi”) (NASDAQ GS: KNDI), announced today that it is actively exploring the option of opening a production base in North America for its popular electric cars (“EVs”) and off-road cars. Kandi plans to target the fast-growing North American market more aggressively and achieve some accessibility by getting rid of shipping prices and prices. The company is in initial talks with potential partners, adding local government agencies on the U.S.-Mexico border, and has received positive feedback. The corporate warned that the exploration procedure is in diapers and that any negotiation would not ensure the structure of an American plant.
Kandi CEO Hu Xiaoming said: “We achieved a good initial fortune with our strategic resolve to expand into the U.S. electric vehicle market. In the short term, we are confident that we will be able to meet North America’s developing call with our existing production amenities in China. However, in the long term, we are actively exploring the option of production of electric vehicles and off-road cars locally, as we plan to target the rapidly developing north american market more aggressively.
About Kandi Technologies Group, Inc. Kandi Technologies Group, Inc. (KNDI), headquartered in the Jinhua Economic Development Area of Zhejiang Province, is engaged in the research, development, manufacture and sale of vehicle products. Kandi carries out its core business activities through its wholly owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (“Kandi Vehicles”) and its subsidiaries, adding Zhejiang Kandi Smart Battery Swap Technology Co., Ltd., SC Autosports, LLC (d/b/a Kandi America), Kandi’s wholly owned subsidiary of Kandi in the United States and Fengsheng Automobile Technology Group Co., Ltd. (formerly Kandi Electric Vehicles Group Co., Ltd., Ltd.). Kandi Vehicles has established itself as one of China’s leading brands of portions of purely electric vehicles and off-road vehicles.
In 2013, Kandi Vehicles and Geely Group, China’s leading automaker, jointly invested in the creation of the partner to develop, manufacture and sell natural electric vehicle (EV) products. Geely Group (including its subsidiary) and Kandi Vehicles have lately own 78% and 22% of the shares in the associate, respectively. The partner has established itself as one of the driving forces of the progression and manufacture of natural EV products in China.
Safe Harbor Statement
This press release includes secure statements that may come with “forward-looking statements.” All statements other than statements of old fact contained herein are “forward-looking statements”. These forward-looking statements are known through the use of forward-looking terms such as “believe,” “forecast, ” or similar expressions, involving known and unknown threats and insecurities. While the Company believes that the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, threats and insecurities, and those expectations may prove to be incorrect. You deserve not to place undue reliance on such forward-looking statements, which relate only to the date of this press release. The Actual Effects of the Company could differ materially from those expected in such forward-looking statements due to a variety of points, adding the threat points discussed in the Company’s periodic reports filed with the Securities and Exchange Commission and available on the SEC website. . (https://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety through such threat points. Except for applicable securities laws, the Company assumes no legal responsibility to update such statements in the future.
Follow us on Twitter: Kandi_Group
For information:
Le groupe Blueshirt
United States: Mr. Gary Dvorchak Email: [email protected]
China: Ms. Susie Wang Email: [email protected]