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First Batch of Kandi’s EX3 Model Pure EV Launch on Market

JINHUA, China, Sept. 26, 2018 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), announced today that Kandi Electric Vehicles Group Co., Ltd. (the "JV Company", a joint venture owned by Kandi Vehicles, Geely Group and Geely Group (Ningbo) Ltd. 50%, 26.08%, and 23.92% respectively), hosted a ceremony for the launch of the first batch of Kandi model EX3 pure electric vehicles at Shanghai facility on September 25, 2018.

Kandi Pure EV Model EX3 Launch Ceremony

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Geely Global Hawk EX3, developed by the JV Company is a model that has excited mass consumers since its release. Furthermore, a great amount of dealers have expressed their interest and confidence in the EX3. Following the receipt of approvals from MIIT (China's Ministry of Industry and Information Technology) for Directory of New Products, Recommended Models for New Energy Vehicles, and the Tax Exemption Directory, the JV Company has officially begun the sale of model EX3.

Mr. Hu Xiaoming, Chairman and CEO of Kandi commented, “we focus on the importance of quality, brand reputation, and customer experience. After repeated testing and polishing, the EX3 is finally ready to be introduced to the market. We are very pleased to launch the EX3 in autumn, the season of harvest. We believe this model will live up to the efforts of Company staff and meet the expectations of shareholders by generating a greater improvement in Kandi’s forthcoming sales performance.”

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (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 one of China's leading manufacturers of pure electric vehicle ("EV") products (through its joint venture), EV parts and off-road vehicles. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (“Kandi Vehicles”), SC Autosports, LLC – previously Sportsman Country, LLC, and the partially and wholly-owned subsidiaries of Kandi Vehicles. 

More information can be viewed at the Company's corporate website at http://www.kandivehicle.com. The Company 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.

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Company Contact:

Ms. Kewa Luo
Kandi Technologies Group, Inc.
Phone: 1-212-551-3610
Email: IR@kandigroup.com