Kandi Enters Framework Agreement to Produce Battery Swap-Enabled Electric Vehicles
10 Janeiro 2022 - 11:00AM
Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the “Company” or
“Kandi”) today announced that it signed a framework agreement with
Hunan Hengrun Automobile Co., Ltd. (“Hengrun”) to jointly produce
battery-swap enabled pure electric vehicles.
According to the agreement, Kandi and Hengrun will
use their respective capabilities to jointly produce
battery-swappable pure electric vehicles. The specific division of
labor and cooperation content will be clarified in a separate
agreement. The vehicles will be sold under the “Henghe” brand
name.
Hengrun specializes in the research, development,
manufacturing, sales and after-sales service of automobiles, parts,
and accessories. It is certified for the production of passenger
cars and commercial vehicles, including EVs. It is one of several
automobile companies fully certified to produce complete
vehicles.
Hu Xiaoming, Chairman of the Board of Directors of
Kandi, said: “Kandi is pleased to partner with Hengrun. We are a
pioneer of EV battery swapping in China. Our accumulated experience
of building over 50,000 electric vehicles combined with our dozens
of battery-swap patents gives us a strong competitive advantage in
this initiative. By utilizing our battery swap expertise and
Hengrun’s vehicle production expertise, together we expect to
create meaningful new benefits for customers and thus promote the
development of the China’s EV industry."
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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