Kandi Technologies Reports Chairman Hu's Attendance at Geely & Xin Dayang's EV Joint Venture Press Conference and EV Lanzhou ...
13 January 2015 - 1:06AM
Kandi Technologies Group, Inc. (the "Company" or "Kandi")
(Nasdaq:KNDI), today announced that Hu Xiaoming, Chairman of Kandi,
Li Shufu, Chairman of Geely Automobile Holdings Limited ("Geely")
and other senior officials were invited to Lanzhou City to attend
Xin Dayang Electric Vehicles Company Limited ("Xin Dayang JV")
Press Conference and Zhidou ("Zhidou") Electric Vehicle ("EV")
Lanzhou Facility Launching Ceremony on Saturday, January 10, 2015.
Xin Dayang JV is a joint venture formed by Geely, Xin Dayang
Mechanical and Electrical Group Company Limited ("Xin Dayang") and
others. Zhidou is an EV brand owned by Xin Dayang.
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Starting from right: Hu Xiaoming, Li Shufu and Huang Qiang,
Deputy Governor of Gansu Province, entering the ceremony site
together
Geely owns a 50% equity interest in Xin Dayang JV. In the
afternoon, Li Shufu was asked by a journalist during the Press
Conference about his thoughts on the overall strategy regarding two
joint ventures Geely has entered with Kandi and Xin Dayang.
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Hu Xiaoming and Li Shufu at Press Conference
"Geely has made a significant investment in EV technologies and
accumulated extensive resources. Geely did not previously have any
models similar to Kandi and Xin Dayang's EV model series;
therefore, both Kandi and Xin Dayang are important additions to
Geely's overall products offerings. First and foremost, for more
than a year, Kandi and Geely have successfully cooperated. I am
very pleased to have Chairman Hu here with us today. His
participation reflects our collaboration and joint effort to grow
an even more promising future for the EV industry. As a result of
our new partnership with Xin Dayang, we will be able to achieve
improved procurement and parts integration systems. R&D
investment in EV is enormous, but both Kandi and Xin Dayang are
still in the early stages. However, by combining their expertise, I
believe they can strengthen their capability in R&D and
accelerate EV development to compete globally. With
centralized R&D, shared infrastructure, and a collective EV
platform, together we will gain more of a competitive edge and
achieve success globally. This is the reason why Kandi, Xinda Yang
and Geely cooperate and work together as a team," Li Shufu
answered.
Please click on the link to view the interview
http://www.kandigroup.com/VedioDetail.aspx?kid=26.
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Officials and distinguished guests at Launching
Ceremony
Hu Xiaoming, Chairman of Kandi, commented during the interview:
"It's great to see that Xin Dayang, Zhidou and Geely have become
partners. Xin Dayang is a reputable enterprise in China's EV
industry, and the integration should benefit all involved. I
believe with the integration with Geely, we can work out a unified
tactical strategy to help each other. Most importantly, together,
Geely, Kandi, and Xin Dayang have unique competitive advantages,
with the consolidated resources and strengths to enhance our
competitiveness and assume an even greater role in EV
leadership."
About Kandi Technologies Group, Inc.
Kandi Technologies Group, Inc. (Nasdaq: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 the one of the world's largest
manufacturers of pure electric vehicle ("EV") products, Go-Kart
vehicles, three-wheel motorcycles and utility vehicles (UTVs),
among others. More information can be viewed at its corporate
website at http://www.kandivehicle.com. Kandi routinely posts
important information on its website.
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
securities laws, the Company does not assume a duty to update these
forward-looking statements.
CONTACT: Kandi Technologies Group, Inc.
Ms. Kewa Luo
Phone: 1-212-551-3610
Email: IR@kandigroup.com
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