Kandi Announces Successful Inspection of First Automatic Intelligent Battery Exchange System
Jinhua, China--(Newsfile Corp. - November 11, 2019) - Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the "Company," "we" or "Kandi"), announced today that its first automatic intelligent battery exchange system passed the inspection on November 10, 2019. The development was spearheaded by the Company's wholly-owned subsidiary, Jinhua An Kao Power Technology Co., Ltd ("Jinhua An Kao").
Kandi Automatic Intelligent Battery Exchange System
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The Kandi automatic intelligent battery exchange system has been successfully developed by its technical team for over a year. The system features automatic functions which perform an intelligent charging and battery exchange. The battery exchanging time for each vehicle is only 90 seconds, which ranks among the current top battery exchange equipment.
View Kandi Automatic Intelligent Battery Exchange System Video: http://www.kandigroup.com/VedioDetail.aspx?kid=32
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi, commented, "We are very excited about the successful inspection of Kandi's first Automatic Intelligent Battery Exchange System. The system is scheduled for delivery to the operations department for the online ride-hailing vehicle's battery exchange services in the near future. We believe that our system will help promote and implement the renewable energy vehicles in China."
About Kandi Technologies Group, Inc.
Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua Economic Development Zone, Zhejiang Province, is engaged in the research, development, manufacturing, and sales of various vehicular products. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. ("Kandi Vehicles") and its subsidiaries, SC Autosports, LLC, the wholly-owned subsidiary of Kandi in the United States and Kandi Electric Vehicles Group Co., Ltd. (the "Affiliated Company"). Kandi Vehicles has established itself as one of China's leading manufacturers of pure electric vehicle parts and off-road vehicles.
In 2013, Kandi Vehicles and Geely Group, China's leading automaker, jointly invested in the establishment of the Affiliated Company in order to develop, manufacture and sell pure electric vehicle ("EV") products. As of September 30, 2019, Geely Group (including its affiliate) holds 78%, and Kandi Vehicles holds 22% in the Affiliated. The Affiliated has established itself as one of the driving forces in the development and the manufacturing of pure EV products in China.
More information about KNDI is available on 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 applicable 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49603