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Kandi America Announces Plans For Nationwide Distribution, Actively Pursues Market-Exclusive Dealer Partnerships

·4 min read

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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201014005694/en/

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201014005694/en/

Contacts

Allison Burum / Beth Rose
aburum@piercom.com / brose@piercom.com
214-392-5545 / 214-683-3745