JINHUA, China, Aug. 13, 2013 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the 'Company' or 'Kandi') (KNDI), today announced that on August 12, 2013, Shanghai New Energy Vehicle Promotion Office's senior officials Mr. Hailin Chen and Mr. Jun Xiang, along with other officials from their office visited Zhejiang Kandi Electric Vehicles Co., Ltd. (the 'JV Company') located on Xixi Road, Hangzhou and the first pure EV smart vertical parking and charging facility in Gudang Technology Park of Xihu District, Hangzhou.
Mr. Xiaoming Hu, the Chairman of Kandi & the General Manager of the JV Company provided to the delegation a detailed introduction on the Hangzhou public EV sharing system as well as the potential pilot project of public EV sharing system in Jinshan District of Shanghai. During the meeting, Mr. Hu also reported the progress of establishing Kandi Electric Vehicles (Shanghai) Co., Ltd ('Kandi Shanghai'), which has just received the approval for business license in Shanghai. Kandi Shanghai was established by Shanghai Maple Guorun Automobile Co., Ltd. ('Shanghai Maple'), a subsidiary of Geely Automobile Holdings Co., Ltd. and the parent company of Zhejiang Kandi Electric Vehicles Co., Ltd. Shanghai Maple will contribute Kandi Shanghai to the JV Company pursuant to the joint venture arrangement with Kandi.
The pilot project for Public EV sharing project is very well received by Jinshan District of Shanghai and the local government is in the process of the location selection. The trial operation of Shanghai's public EV sharing system is expected to be launched before the end of 2013.
#### !! Mr. Hailin Chen said in his remarks: "The public EV sharing system is highly recognized and we look forward to adopting this system in Shanghai. Furthermore, we are very confident about Kand's expansion in Shanghai." !! !####
Sentiment: Strong Buy
Thanks for the post. Too bad Yahoo! doesn't allow direct posting of links, but I can see how many would abuse the priviledge if available. KNDI is truly an exciting stock, but only to those who have done diligent research regarding the product, the working partnership with State Grid, the QBX Quick Battery Exchange, the Vertical Garage rental program and it's progress, the 5 year goals of the PRC regarding EVs as they are meant to contribute to reducing the worlds' worst metropolitan air quality problems, the Joint Venture (50/50) with Geely, the burgeoning growth of recharge and battery quick replacement stations throughout large cities in China thus forming the beginnings and advancement of a necessary EV infrastructure, and the new goes on and on for those genuinely interested in KNDI as a legitimate investment opportunity. It is very unfortunate that most of the posts on this message board are, unlike yours, completely devoid of any useful content whether they are pro KNDI or con KNDI.... Pumper or Dumper. The common denominator of this message board seems to be a complete vacuum of uselful information as a general rule. Thank goodness some, like yourself, focus on the presentation of information. All the rest focus on Propaganda, Lies, Bogus Claims, their own ego and private warfare against other posters. In the words of "Riley" from "The Life of Riley": "What a revolting development this is!"
There will follow more cities to adopt "The public EV sharing system " with EVs from KNDI.
This will lead to a explosion of revenues in the years ahead, pps will go up.
Sentiment: Strong Buy