Kandi Subsidiary Announces Successful Mass Production of Leading LFP Battery
28 Dezembro 2021 - 10:45AM
Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the “Company” or
“Kandi”) today announced that its wholly owned subsidiary Jiangxi
Province Huiyi New Energy Co. Ltd (“Huiyi”) entered mass production
of its lithium iron phosphate (“LFP”) battery IFR18650-2200mAh, one
of the most advanced on the global market.
After years of technical innovation, Huiyi has now achieved a
breakthrough in the energy density of its LFP 18650 battery.
Energy density is a key measure of performance for lithium-ion
battery products; higher densities reflect a company's R&D
capability and technical expertise.
In 2019, Huiyi was the first to launch a 3C LFP battery
IFR18650-2000mAh, which had an energy capacity 11% higher than the
industry average of 18650-1800mAh at that time. From this
effort, Huiyi obtained two national invention patents (Patent
Numbers were ZL 201811609798.4 and ZL 201910646851.6). After
its initial release, the IFR18650-2000mAh got high industry-wide
ratings and positive feedback from customers. In November
2021, technical innovation and iterative development enabled Huiyi
to achieve successful mass production. The IFR18650-2200mAh
has 10% higher energy capacity than the 18650-2000mAh created in
2019 and is 22% higher than the current industry average. Its
energy density reaches 161.8Wh/kg, evidence of Huiyi’s global
state-of-the-art technology.
“We are delighted by Huiyi’s technical
breakthrough and production achievement,” said Mr. Hu Xiaoming,
Chairman and Chief Executive Officer of Kandi, “As
technology-leading LFP batteries move into the market, we believe
Kandi and Huiyi can harness synergies based on our complementary
strengths in R&D and target markets. We are confident that
Kandi can strengthen its market position in the supply chains of
various electric vehicles as we integrate Huiyi into our
operations.”
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 Technologies
Group Co., Ltd. (“Zhejiang Kandi Technologies”), formerly, Zhejiang
Kandi Vehicles Co., Ltd.) and its subsidiaries including Zhejiang
Kandi Smart Battery Swap Technology Co., Ltd, and SC Autosports,
LLC (d/b/a Kandi America), the wholly-owned subsidiary of Kandi in
the United States, and its wholly-owned subsidiary, Kandi America
Investment, LLC. Zhejiang Kandi Technologies has established itself
as one of China's leading manufacturers of pure electric vehicle
parts and off-road vehicles.
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.
Follow us on Twitter: @ Kandi_Group
Contacts:
Kandi Technologies Group, Inc.Ms. Kewa Luo+1 (212)
551-3610IR@kandigroup.com
The Blueshirt GroupMr. Gary Dvorchak,
CFAgary@blueshirtgroup.com
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