Kandi Technologies Expects to Exceed Q2 EV Sales Forecast
Jinhua, China--(Newsfile Corp. - July 14, 2016) - 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 Geely Automobile Holdings Ltd.) achieved strong sales results in pure electric vehicles ("EVs") in the second quarter ended June 30, 2016 and expects to exceed its previously announced sales forecast of 5,500 to 6,000 EV products by approximately 10%.
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi, commented, "Since the publish of the approved Directory of new energy vehicles from State Administration of Taxation in April this year, our EV products have achieved great sales results. The JV Company's EV sales excel our expectation, which is a strong indicator of market demand and customer satisfaction. We are very confident in maintaining our leadership position in China's EV industry."
About Kandi Technologies Group, Inc.
Kandi Technologies Group, Inc. (NASDAQ GS: 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. 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.