SOURCE: Kandi Technologies, Corp.

Kandi Technologies, Corp.

January 20, 2011 08:30 ET

Kandi Technologies Announces "Test Drive Days" in Jinhua

JINHUA, CHINA--(Marketwire - January 20, 2011) -  Kandi Technologies, Corp. (NASDAQ: KNDI) ("Kandi" or the "Company"), a leading Chinese exporter of all terrain recreational vehicles, developer of the "CoCo" all electric Low Speed Vehicle (LSV), and a leader in Electric Vehicle (EV) development in China, reported today that, as part of an expanding marketing and promotion program in Jinhua City for its new EVs, it will host a series of "Test Drive Days" for Jinhua residents beginning January 23rd and continuing after the Spring Festival in February. 

The initial event will be co-hosted by Jinhua News Website, a local website in Jinhua, where those selected for test drives and gifts will have an opportunity to experience the Kandi EV at its production site.

The Company noted that the Test Drive Days are one of several promotional programs it has initiated or are in the planning stage aimed at building enthusiasm and generating sales for its high quality, low-cost, pollution free EVs. 

About Kandi Technologies, Corp.

Kandi Technologies, Corp. (NASDAQ: KNDI) ranks as one of the largest manufacturers and exporters of go-karts in China, making it a world leader in the production of this popular recreational vehicle. It also ranks among the leading manufacturers in China of all terrain vehicles (ATVs), and specialized utility vehicles (UTVs), especially for agricultural purposes. Recently, it introduced a second generation high mileage, two seater three-wheeled motorcycle. A major company focus also has been on the manufacture and sales of highly economical, beautifully designed, all electric super mini cars for neighborhood driving and commuting. Available in the U.S., convertible and hardtop models of the CoCo travel up to 60 miles at speeds reaching 25mph on a six hour charge. In China, the government recently approved the sale there of Kandi EVs. These include the lithium ion powered KD5011, which is eligible for national subsidies of up to RMB 60,000 per vehicle in all EV "pilot" cities throughout China. Also, the KD5010, which is now being sold in Jinhua City, where the city's first "Battery Charging Farm" and "Express Change" battery station has opened. This and planned additional "Express Change" battery stations are operated by a pioneering three partner joint venture in which Kandi holds a 30% interest with China's leading battery maker, Tianneng Power International, Ltd., and Jinhua Bada Group, a subsidiary of State Grid Power Corporation, China's largest power company. Participation in China's first Electric Vehicle (EV) battery replacement services company will mean the development of two revenue streams for Kandi -- one from the sale of its battery-powered vehicles and the other from a share of the battery rental, replacement, charging and recycling fees generated by the new joint venture. Kandi believes that battery powered, electric super minis and related services will become the Company's largest revenue and profit generator. The Company's products can be viewed at http://www.kandivehicle.com. Its corporate/ir website is http://www.chinakandi.com.

Information Regarding Forward-Looking Statements

Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the Securities and Exchange Commission.

Contact Information

  • Contacts:
    Kandi Technologies, Corp.
    Xiaoming Hu
    Chairman and CEO
    86-579-82239856

    Cathy Cao
    Executive Vice President of Finance
    Cathy_kndi@yahoo.com
    Tel: 212-551-3610