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Kandi Technologies Group, Inc. (KNDI)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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6.72-0.10 (-1.47%)
As of 9:34AM EDT. Market open.
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Previous Close6.82
Open6.83
Bid6.70 x 1200
Ask6.80 x 900
Day's Range6.72 - 6.83
52 Week Range2.17 - 17.40
Volume50,235
Avg. Volume5,937,323
Market Cap366.985M
Beta (5Y Monthly)2.55
PE Ratio (TTM)52.09
EPS (TTM)0.13
Earnings DateAug 10, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • GlobeNewswire

    Kandi Announces Establishment of Rideshare Company

    Jinhua, China, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the “Company” or “Kandi”) announced today the establishment of the company that intends to operate a ridesharing service across China.  The operating company will operate under the name Zhejiang Ruiheng Technology Company (“Ruiheng”).  The company was established by Zhejiang Ruibo New Energy Vehicle Service Company Ltd. (“Ruibo”), Jiangsu Jinpeng Group Ltd. (“Jinpeng”) and Kandi.  Ruibo, Jinpeng and Kandi each owns 80%, 10%, and 10% of Ruiheng, respectively.  The operating company was approved by the Hangzhou Xihu District Market Supervision Administration after an extensive application process.Ruiheng intends offer a ride-sharing service utilizing a fleet of 300,000 government-accredited pure electric vehicles, with an initial focus on pilot operating programs for vehicle-battery separation and exchange services in Haikou in Hainan province and Shaoxing in Zhejiang province.  Ruiheng’s wholly owned subsidiary in Hainan province, Hainan Ruiheng Technology Company has received approval from the Hainan Market Supervision Administration and is working on filings and documentation pertinent to operating 1,000 Kandi K23 regulatory-compliant vehicles in Hainan.  The Company expects to receive approval soon and will start trial operations immediately thereafter. Ruiheng is also preparing filings and documentation to launch a pilot program of 2,500 Kandi K23 regulatory-compliant vehicles in the city of Shaoxing in Zhejiang province.  The Company expects to initiate this pilot program in November 2020. Upon successful completion of the two pilot programs, the remainder of the 300,000 compliant vehicles in the rideshare program will be put into service in other third and fourth tier cities across China. About Kandi Technologies Group, Inc.Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua Economic Development Zone, Zhejiang Province, is engaged in the research, development, manufacturing, and sales of various vehicular products. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. ("Kandi Vehicles") and its subsidiaries including Zhejiang Kandi Smart Battery Swap Technology Co., Ltd, SC Autosports, LLC (d/b/a Kandi America), the wholly-owned subsidiary of Kandi in the United States and Fengsheng Automobile Technology Group Co., Ltd (formerly known as Kandi Electric Vehicles Group Co., Ltd., the “Affiliate Company”). Kandi Vehicles has established itself as one of China's leading manufacturers of pure electric vehicle parts and off-road vehicles.In 2013, Kandi Vehicles and Geely Group, China's leading automaker, jointly invested in the establishment of the Affiliate Company in order to develop, manufacture and sell pure electric vehicle ("EV") products. Geely Group (including its affiliate) and Kandi Vehicles currently holds 78% and 22% of the equity interests in the Affiliate Company, respectively. The Affiliate Company has established itself as one of the driving forces in the development and the manufacturing of pure EV products in China.More information about KNDI is available on the Company's corporate website at http://www.kandivehicle.com. The Company routinely posts important information on its website.Safe Harbor StatementThis 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.Follow us on Twitter: @ Kandi_GroupContacts:Kandi Technologies Group, Inc. Ms. Kewa Luo +1 (212) 551-3610 IR@kandigroup.comThe Blueshirt GroupMr. Gary Dvorchak, CFA +1 (323) 240-5796 gary@blueshirtgroup.comMs. Susie Wang susie@blueshirtgroup.com

  • GlobeNewswire

    Kandi Enters Strategic Cooperation Agreement with Zhejiang State Grid Electric Vehicle Service Company

    Jinhua, China, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the “Company” or “Kandi”) announced today that it entered into a strategic agreement with the Zhejiang State Grid Electric Vehicle Service Company to cooperate in the area of battery exchange for pure electric vehicles. Vital to China’s national economy and energy security, State Grid Corporation of China (“State Grid”) is the largest state-owned public service enterprise in the world, ranking first among China's top 500 enterprises and second in the Fortune 500.  State Grid is dedicated to implementing national policy by fully utilizing its advantages in technology, capital and human resources to construct a charging infrastructure in China that will help to accelerate the development of China's electric vehicle industry. In order to improve the professional management and services at charging facilities, State Grid Corporation of China and State Grid Zhejiang Electric Power Company combined efforts to establish the Zhejiang State Grid Electric Vehicle Service Company in 2017.  The scope of business spanned: new energy technology, electronic technology, testing technology, energy saving and environmental protection technology, new energy vehicles, electronic products research and development, technical consultation, technical services, as well as construction, operation, and maintenance services for electric vehicle charging and battery exchange. To further promote innovation and development in the battery exchange business, Kandi established a wholly owned subsidiary, China Battery Exchange Technology Company, to specialize in the construction and operation of battery exchange networks for new energy vehicles. The strategic cooperation agreement establishes that Kandi and Zhejiang State Grid Electric Vehicle Service Company will together promote the application and development of China’s new energy vehicles, intensifying model innovation and enhancing core competitiveness, with a focus on vehicle-battery separation and exchange.  The cooperation agreement helps to implement China’s national energy transformation and new energy vehicle development strategy. More specifically, the agreement entails:  The two parties will cooperate extensively across the whole supply chain for electric vehicle-battery exchange.  This in-depth collaboration will include the following elements: centralized constant temperature battery charging, distribution, maintenance, battery recycling, construction and operation of power exchange networks, power exchange services to meet energy demand, grid auxiliary services, flexible control of power load exchange, as well as other value-added services for power exchange stations.  Kandi intends to supply 300,000 electric vehicles to various ride-sharing programs, and the two parties will cooperate to offer battery exchange services for these 300,000 vehicles over the next five years. The two parties may expand into new areas of cooperation based on the progress in this collaboration. Kandi Chairman and Chief Executive Officer Hu Xiaoming commented, “Strategic cooperation with Zhejiang State Grid in the field of battery exchange is a major milestone for Kandi.  We will start with battery exchange services for 300,000 compliant vehicles in rideshare programs within a five-year period. This will play a critical role in future collaboration.  Launch of this program will play a critical role by driving rapid development of Kandi’s business.” About Kandi Technologies Group, Inc.Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua Economic Development Zone, Zhejiang Province, is engaged in the research, development, manufacturing, and sales of various vehicular products. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. ("Kandi Vehicles") and its subsidiaries including Zhejiang Kandi Smart Battery Swap Technology Co., Ltd, SC Autosports, LLC (d/b/a Kandi America), the wholly-owned subsidiary of Kandi in the United States and Fengsheng Automobile Technology Group Co., Ltd (formerly known as Kandi Electric Vehicles Group Co., Ltd., the “Affiliate Company”). Kandi Vehicles has established itself as one of China's leading manufacturers of pure electric vehicle parts and off-road vehicles. In 2013, Kandi Vehicles and Geely Group, China's leading automaker, jointly invested in the establishment of the Affiliate Company in order to develop, manufacture and sell pure electric vehicle ("EV") products. Geely Group (including its affiliate) and Kandi Vehicles currently holds 78% and 22% of the equity interests in the Affiliate Company, respectively. The Affiliate Company has established itself as one of the driving forces in the development and the manufacturing of pure EV products in China. More information about KNDI is available on 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 applicable securities laws, the Company does not assume a duty to update these forward-looking statements. Follow us on Twitter: @ Kandi_Group Contacts: Kandi Technologies Group, Inc.Ms. Kewa Luo +1 (212) 551-3610 IR@kandigroup.com The Blueshirt GroupMr. Gary Dvorchak, CFA +1 (323) 240-5796 gary@blueshirtgroup.com Ms. Susie Wang susie@blueshirtgroup.com

  • Why Kandi Technologies Stock Just Popped 7.5%
    Motley Fool

    Why Kandi Technologies Stock Just Popped 7.5%

    Chinese electric-vehicle maker Kandi Technologies (NASDAQ: KNDI) got off to an inauspicious start in August, when its "live virtual launch" of two new electric car models (the K23 and K27) netted the company only 11,000 registrations to view the event online -- and just 436 pre-orders. Now, however, Kandi is taking a second stab at invading the U.S. market for electric cars, announcing "nationwide distribution" in the U.S. from physical car stores.