SOURCE: Kandi Technologies, Corp.

Kandi Technologies, Corp.

November 10, 2010 08:00 ET

Kandi Technologies to Participate in Upcoming November Investment Conferences in New York

JINHUA, CHINA--(Marketwire - November 10, 2010) - Kandi Technologies, Corp. (NASDAQ: KNDI) ("Kandi" or the "Company"), a leading Chinese exporter of recreational vehicles, developer of the "COCO" all electric LSV, and a leader in Electric Vehicle (EV) development in China, announced today the Company will present at the following investment conferences in November 2010:

  • The Brean Murray, Carret & Co. 2010 China Growth Conference at the Millennium Broadway Hotel, in New York City, on Wednesday, November 17, 2010. Kandi's presentation will take place at 10:00am.

  • The Maxim Group Growth Conference on Thursday November 18, 2010 at the Grand Hyatt Hotel in New York City. Kandi's presentation is scheduled for 3:30pm in the Edison and Wintergarden Room.

Kandi's recently named EVP of Finance, Ms. Cathy Cao, will be the speaker at each conference, and also will be available to meet with investors throughout each day.

For additional information, investors should direct calls to Jon Donenfeld of DGI Investor Relations at 212-425-5700; or email jdonenfeld@dgiir.com.

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, including the larger, more powerful, KD5010. 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.

China's First EV Battery Replacement Services Company

In early October, Kandi announced the launch of a three partner joint venture 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, to create China's first Electric Vehicle (EV) battery replacement services company.

This pioneering agreement paves the way for the realization of Kandi's EV business model in Jinhua. In this model, purchasers of Kandi EVs will have easy access to multiple, easily reached "Express Change" battery stations throughout the city, eliminating concerns about limited driving ranges and battery maintenance. Further, by having batteries available on a rental basis, rather than having to purchase them with their vehicles, the purchase cost of new EVs will be lowered substantially.

In the announcement, the Company added that construction in Jinhua by State Grid Corporation of the main battery farm within the city is expected to be completed in October, and following that, in November, Kandi anticipates that sales in Jinhua of the previously announced 3000 Kandi EVs being subsidized by the local and regional government will commence. It was noted this 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 said a key enabling feature of the "Express Change" will be the Company's quick "Express Change" technology, which will permit drivers to have their batteries exchanged in a matter of minutes.

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.
    Hu Xiaoming
    Chairman and CEO
    86-579 - 82239856

    US Investors:

    Ken Donenfeld
    donfgroup@aol.com
    kdonenfeld@dgiir.com
    Tel: 212-425-5700
    Fax- 646-381-9727