Kandi America Expands Product Categories, Launches NEV Models
18 March 2021 - 1:09AM
Business Wire
Kandi America, the U.S. subsidiary of Kandi Technologies Group
Inc. (NASDAQ GS: KNDI), an international automotive and powersports
manufacturer, today announced the strategic expansion of its
automotive business to fulfill the largely untapped Neighborhood
Electric Vehicle (NEV) market. Now available for order and delivery
through select dealerships, the Kandi NEV K23 and NEV K27 models
have been certified to meet Federal Motor Vehicle Safety Standards
(FMVSS) 500 requirements.
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the full release here:
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Kandi America is expanding its automotive
business to the Neighborhood Electric Vehicle (NEV) market. Now
available for order and delivery through select dealerships, the
Kandi NEV K23 (priced at $22,499) contains safety features such as
seatbelts and airbags, much-desired HVAC, and can comfortably fit
up to four passengers. The back seats fold down completely to
provide ample cargo space, making it perfect for active lifestyles
and running errands around town. Unique to the NEV market, it comes
standard with backup camera, Bluetooth capability and a high-tech
touchscreen – everything the modern driver needs. Tax incentives
for the NEV K23 vary by state. (Photo: Business Wire)
Increasing demand in recent years has resulted in steady growth
of the NEV market, especially as it pertains to local
transportation within cities and communities. However, there is a
clear gap in the market when it comes to meeting the needs of the
modern-day driver, especially the technology and safety features
they have come to expect.
“In the U.S., most NEVs are converted from golf carts and are
not as safe or comfortable as regular cars,” said Johnny Tai, CEO
of Kandi America. “We are excited to have harnessed Kandi’s
groundbreaking technology used for electric cars to create an
elite, industry-leading category of models within the NEV space
known for sophistication and dependability.”
Commonly referred to as “daily drivers” for passenger treks,
NEVs are most often designed to supplement traditional vehicles
rather than serve as replacements. They are convenient to maneuver
and park due to their small size and eliminate the cost for gas
while keeping miles off existing cars.
Priced at $22,499 and $15,499 respectively, the Kandi NEV K23
and NEV K27 models are eligible for tax incentives that vary by
state.
Unique to the NEV market, Kandi’s NEV K23 and NEV K27 models
contain safety features such as seatbelts and airbags, much-desired
HVAC, and can comfortably fit up to four passengers. The back seats
fold down completely to provide ample cargo space, making it
perfect for active lifestyles and running errands around town. Both
models come standard with a backup camera, Bluetooth capability and
a high-tech touchscreen – everything the modern driver needs.
“NEVs provide a viable alternative for people of all ages
looking for an environmentally-friendly mobility solution in a
world that will soon be dominated by all things electric,” said
Tai. “This includes varying types of use – from city-dwellers with
short commutes to leisure drivers in communities to transport and
delivery professionals within establishments.”
Last week, Kandi America announced the first step of its
expansion plans – a substantial investment made to relocate its
corporate headquarters from Garland to a premier location near the
intersection of U.S. Highway 75 and Forest Lane that will feature a
dedicated area for test drives. The purchase closed on March 4 with
an anticipated move date in April. Located at 8050 Forest Lane, the
54,372-square-foot building sits on a 5-acre lot and will house
Kandi America’s corporate offices, as well as a show room and
distribution center.
The company’s long-term strategic plans include continued
investment in the development and rollout of electric vehicles and
powersports, including the highly anticipated passenger cars which
remain in development per the decision in late 2020 to make several
interior and exterior enhancements.
Prospective dealers looking to gain additional information on
how to become a Kandi America partner can visit
KandiAmerica.com/dealer-inquiry.
About Kandi America
Kandi America is the U.S. subsidiary of Kandi Technologies
Group, Inc. (NASDAQ GS:KNDI). Headquartered in Garland, Texas,
Kandi America is primarily engaged in the wholesale distribution of
off-road vehicle products and electric vehicles. Since 2008, Kandi
Technologies has been publicly traded on the Nasdaq Stock Exchange
under the symbol KNDI. For more information, visit
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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version on businesswire.com: https://www.businesswire.com/news/home/20210317005527/en/
Johnny Tai news@kandiamerica.com
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