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Kandi Technologies Received New Order Of 100 Pure EVs From Hangzhou New Energy Taxi Co. Ltd.

JINHUA, China, Nov. 8, 2012 /PRNewswire/ -- Kandi Technologies, Corp. (the 'Company' or 'Kandi') (NASDAQ: KNDI), a leading Chinese manufacturer and developer of pure electric vehicles (EVs) and all-terrain vehicles (ATVs), today announced that the Company's wholly owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd ('Kandi Vehicles') recently received a new order of 100 pure EVs from Hangzhou New Energy Taxi Co. Ltd. which intends to deploy all 100 EVs for its internal and marketing use.

According to signed sales contract, Kandi shall deliver 100 pure EVs, model JNJ6290EV, to Hangzhou New Energy Taxi by the end of 2012. The selling price of each vehicle, without battery, is RMB 39,800 (approximately USD 6375) and total contract amount for the order is RMB 3.98 million (approximately USD 637524) . Kandi will ensure that the electric vehicles meet the strict quality standards and technical parameters of Chinese national and local Government and provide after sales support to the buyer. 

Mr. Jinfeng Ying, Vice President of Kandi Vehicle commented, "We are excited to sign on Hangzhou New Energy Taxi as another important commercial client. The management and employees of Hangzhou New Energy Taxi will enjoy our innovative pure electric vehicles and, at the same time, showcase our product to their customers.  We hope to gain further consumer awareness of the 'Kandi' brand as well as our contribution to help solving the urban traffic and air pollution problems in China."

About Kandi Technologies, Corp.

Kandi Technologies, Corp. (NASDAQ: KNDI) is a manufacturer and exporter of a variety of vehicles in China, making it a world leader in the production of popular off-road vehicles (ORVs). It also ranks among the leading manufacturers in China of all-terrain vehicles (ATVs), specialized utility vehicles (UTVs), and a recently introduced second-generation high mileage, two-seat three-wheeled motorcycle. Another major company focus has been on the manufacture and sale of the COCO electric vehicle (EV), a highly economical, beautifully designed, all-electric super mini-car for neighborhood driving and commuting. The convertible and hardtop models of the COCO EV are available in the United States and other countries, while the Chinese government has approved the sale of Kandi EVs in China since 2010. More information can be viewed at its corporate website is http://www.kandivehicle.com/.

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 securities laws, the Company does not assume a duty to update these forward-looking statements.

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