JINHUA, China, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), announced today that according to Public Notice No. 45 issued by China’s Ministry of Industry and Information Technology (“MIIT”) and State Administration of Taxation (“SAT”) promulgated on September 17, 2018, Geely Brand Electric Vehicle (“EV”) SMA7001BEV49 (Model EX3) and SMA7001BEV47 (Model K23), developed by Kandi Electric Vehicles Group Co., Ltd. (the "JV Company" - a 50/50 joint venture between Kandi and Geely Group (Ningbo) Ltd.) was listed in the twentieth approved directory of New Energy Vehicles. As a result, the Model EX3 and K23 are now qualified for purchase tax exemption.
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi commented: “we are very pleased that the Model EX3 and K23 are included in the approved directory of purchase tax exempted new energy vehicles. These two EV models met all the sale requirements after obtaining approvals from MIIT for Directory of New Products, Recommended Models for New Energy Vehicles and the Tax Exemption Directory. We believe the Model EX3 and K23 will be the engine that propels Kandi’s growth going forward.”
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 (“Autosports”), 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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Ms. Kewa Luo
Kandi Technologies Group, Inc.