Kandi America Announces Plans For Nationwide Distribution, Actively Pursues Market-Exclusive Dealer Partnerships
15 October 2020 - 2:04AM
Business Wire
Country’s most affordable electric vehicle
brand continues working toward building extensive dealer network
ahead of vehicle distribution in late Q4.
Kandi America, the U.S. subsidiary of Kandi Technologies Group
Inc. (NASDAQ GS: KNDI), an international automotive manufacturer,
today announced the details of its nationwide distribution
strategy. As part of its initial rollout, Kandi will offer
market-exclusive agreements to a maximum of three dealer partners
in the Dallas/Fort Worth Metroplex.
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Kandi America announces details of its
nationwide distribution strategy and is actively pursuing
market-exclusive dealer partners. (Photo: Business Wire)
“More and more dealers are taking a hard look at the future of
the industry and are actively seeking ways to evolve from the
traditional franchise and independent dealer models in order to
increase profit margins by minimizing overhead costs and
streamlining the customer acquisition process,” said Kandi America
CEO Johnny Tai. “We are proud to offer an innovative new spin on
the model by taking a slimmer and safer approach through an
auto-replenishment program and a no-haggle pricing policy.”
Last month, Kandi unveiled a preview of its innovative micro hub
showroom design. Requiring a minimum of only 2,000 square feet, the
minimalistic showroom reflects the brand’s core values by infusing
tech-savvy and environmentally-friendly elements throughout the
design.
Kandi’s open concept showroom is designed to showcase the
company’s affordable EV models – the K23 and K27. Additionally,
Kandi showrooms will feature two interactive kiosks to increase the
efficiency of the sales process.
While many manufacturers require a significant amount of
showroom space, overhead and inventory, Kandi America’s innovative
micro hub model requires space for only one of each of its EV
models and a service area, allowing inventory to be housed
off-site.
“The response we’ve received from dealers since unveiling the
cars in August has been phenomenal,” said Tai. “Our approach to
simplifying the buying experience and building trust between
manufacturer, dealership and customer is resonating strongly
throughout the dealer community. So much so that we have pending
agreements with dealers in markets such as San Antonio, Denver and
Atlanta.”
Kandi America will partner with a limited number of dealers in
each market and will ensure they have exclusive rights to the
territory. Pre-orders will be fulfilled by these dealer partners
when the vehicles are available in late Q4 2020.
“The decision to seek exclusive partnerships with a limited
number of dealers in each market was made to benefit dealer
partners. Through Kandi’s aggressive digital marketing efforts, we
will not only increase brand awareness, but drive foot traffic to
each of our dealer partner locations,” continued Tai.
To learn more and place a pre-order with a $100 fully refundable
deposit, visit KandiAmerica.com.
Prospective dealers looking to gain additional information on
how to become a Kandi America partner, including a pricing sheet
which details manufacturer incentives, can visit
http://dealer.kandiamerica.com.
About Kandi America
SC Autosports, LLC is the U.S. subsidiary of Kandi Technologies
Group, Inc. (NASDAQ GS:KNDI), doing business under the name “Kandi
America.” Headquartered in Garland, Texas, Kandi America is
primarily engaged in the wholesale of off-road vehicle products and
distribution of electric vehicles. Since 2008, Kandi Technologies
has been publicly traded on the Nasdaq Stock Exchange under the
symbol KNDI. Kandi Technologies acquired SC Autosports in 2018 to
be its exclusive U.S. distributor. For more information, visit
www.KandiAmerica.com.
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.
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Allison Burum / Beth Rose aburum@piercom.com / brose@piercom.com
214-392-5545 / 214-683-3745
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