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Kandi Technologies Participated In 2012 Global New Energy Vehicle Conference

Stocks in this article: KNDI

JINHUA, China, Jan. 14, 2013 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (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 has recently participated in the 2012 Global New Energy Vehicle Conference ("GNEC") held in Southern China's Hainan province from January 10 th to 14 th, 2013. At the opening ceremony of the conference, Chairman and CEO of Kandi, Mr. Xiaoming Hu gave a keynote speech about the company's various innovative business models to promote the fast adaption of pure EVs in China, with a particular focus on the newly unveiled pure EV rental/sharing model.

This conference was initiated by the provincial government of Hanan and the First Electric Vehicle Net ( ) to promote a global collaboration of new energy vehicle innovation and the development of the new-energy vehicle industry. Since December 2010, GNEC has been successfully held twice in China, which has attracted many international governmental and business delegations from countries such as United States, Japan, Korea, France, Britain and Germany to interact with hundreds of top-level Chinese attendees. The theme of this year's GNEC is "Opening the door to EV market" and the conference was consisted of 2012 GNEV Forum, EV Product and Technology Exhibition, as well as a New Energy Vehicle Carnival which attracted over 10,000 consumers.    

Approximately 160 auto companies from China and oversea attended the conference, and over 40 new-energy vehicles were showcased at the conference. In addition, about 1,000 top industrial executives and government officials from all over the world took part in the business forum and around 100 mainstream media and press including Reuters, Bloomberg news and CCTV reported throughout the conference.

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In Mr. Hu's remarks, he discussed in detail of the Kandi's newly unveiled pure Electric Vehicle short-term rental/sharing model for public transportation. Mr. Hu said that in Kandi's short-term EV rental model, only pure EVs will be made available to the public as rental cars which will be serviced by a network of "smart" vertical parking and charging garages throughout the city including the airport, train stations, business centers, apartment complexes and other places that are the focus of commuter traffic in and around the city. This network system will provide centralized management of EV sharing service, EV maintenance and battery charging as well recycling. Mr. Hu believes that the short-term EV rental model is a viable step to speed up the adaption of pure EV because it provides convenient and affordable EV sharing to ever growing eco-conscious urban drivers seeking for an easy, occasional rental, without the hassles of paying for gasoline, car maintenance, insurance and taxes.

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