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Plans to Deliver 1,500 Kandi Brand Electric Vehicles by the End of 2015
Kandi Technologies Group, Inc.(Nasdaq:KNDI), today announced that Kandi Electric Vehicles Group Co., Ltd. and Luzhou Jiecheng Auto Co. Ltd., have signed a strategic cooperation agreement for the sale of 1,500 Kandi brand electric vehicles in Luzhou to launch the Micro Public Transportation program. In support of the program, the Luzhou municipal government will match the national government’s per-vehicle subsidy. Delivery of the 1,500 EVs is expected by the end of 2015.
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi, commented, “We are very pleased to introduce Kandi brand EVs to Luzhou city. Given the strong local government support, we believe the MPT program will help ease traffic congestion and parking scarcity, while contributing positively to the environment and creating a more efficient public transportation experience for Luzhou residents.”
Known as the “wine city,” Luzhou is a prefectural-level city located in the southeast of Sichuan Province. The city is not only an important port on the Yangtze river, but is also the largest port in both size and output in Sichuan province. Luzhou has been chosen by the national government as one of the pilot cities for the national renewable energy automobile program.
Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua, Zhejiang Province, is engaged in the research and development, manufacturing and sales of various vehicle products. Kandi has established itself as one of China’s leading manufacturers of pure electric vehicle products (through its joint venture), EV parts and off road vehicles.
Kandi has been advocating, and through Zhejiang ZuoZhongYou Electric Vehicle Service Co., Ltd., implemented the “Micro Public Transportation” model, or MPT, which provides a shared pure EV transportation platform that has not been previously afforded to urban residents. It is a network system for EV sharing & leasing as a model for public transportation to alleviate traffic congestion. It also includes a variety of the Long-term Group Leasing options, ideal for the companies, government entities and residential communities which lease at least 100 EVs on an annual basis. As of the end of 2014, the MPT had been launched, through the Service Company, in nine cities including Hangzhou, Shanghai, Chengdu, Nanjing, Guangzhou, Wuhan, Changsha, Changzhou and Rugao.
