Let's look at the timelines if you believe anything reported by Kandi to be true.
August 15, 2012 Kandi announces that they had signed a LOI with Zoyte.
The major provisions of the LOI are as follows:
1. In order to obtain the local government subsidies support, parties intend to jointly establish a new company of Hangzhou Zotye-Kandi New Energy Co. Ltd. ("Zoyte-Kandi") in the area of Hangzhou city.
2. For the specific terms of cooperation, parties will sign a separate agreement based upon Hangzhou municipal government's requirements and the progress of the projects.
3. To satisfy the EV demands in Hangzhou, before the establishment of Zoyte-Kandi, parties will utilize their respective competitive advantages to start the initial cooperation for mutual development and benefit. The details will be further discussed and negotiated.
So in 6 weeks they have managed to agree all the terms, establish the company, develop the car, submit the car to Chinese government for approval, and get the approval back from Chinese government and make a press release?
You would have to be dumber, or more crooked, than Art Porcari, Perry Coleman, and Tom Konrad combined to swallow that.
As word spread how KNDI handle there Business CALB and PRC will walk away
It's clear there are other groups making EV in China. These group have more ethics.
Some of the bull would have you think KNDI is the only one don't kid yourself.
KANDI is the Major Provider of the EV's!
They won't say they have all of the 20,000 until they start deliveries since their PR's are usually conservative. Also mentions the partnership with the State Grid who is building the QBE battery swap stations and who produces an EV with a swappable battery - KANDI does!
As previously announced on July 16, 2012, the Company entered into a cooperative letter of intent ("LOI") with China Aviation Lithium Battery Co., Ltd. (CALB") to supply pure electric vehicles for the 20,000 pure EV leasing program in Hangzhou City which is being promoted and undertaken by CALB, the State Grid Cooperation of China ("State Grid") and Hangzhou municipal government. According to the framework of this collaboration, Kandi is the major provider of pure EVs to CALB, which will be responsible to produce automobile-use lithium batteries. State Grid is mainly responsible for the construction and operation of backbone EV infrastructures, such as quick battery exchange (QBE) stations, EV charging network and battery maintenance/recycling centers, while Hangzhou municipal government will provide financial subsidies and create various supporting policies to promote the pure EV leasing program.