JINHUA, China, March 25, 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 on March 22, 2013, the Company's wholly owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd ('Kandi Vehicles') entered into a Joint Venture Agreement with Shanghai Maple Guorun Automobile Co., Ltd. ('Shanghai Maple'), a 99% owned subsidiary of Geely Automobile Holdings Ltd. (Hong Kong Stock Exchange, Stock Code: 175) (the "Geely") to establish a joint venture company of Zhejiang Kandi Electric Vehicles Co., Ltd. (the "JV Company").
Kandi And Geely Enter Into Joint Venture Contract To Establish Zhejiang Kandi Electric Vehicles Co, Ltd.
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