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TheStreet Open House

Kandi Technologies Completed China's First Full Scale Production And Assembly Line Specialized For Pure Electric Vehicles

JINHUA, China, April 3, 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), announced today that its wholly owned subsidiary Kandi Electric Vehicles (Changxing) Co., Ltd. ("Kandi Changxing") has completed a full scale pure EV production and assembly line in the Changxing Economic Development Zone of Zhejiang Province and started production. It is the first full scale production and assembly line specialized for pure EVs in China, which includes all major manufacturing processes for general assembly of EVs. The annual production capacity for the first phase is expected to reach 100,000 units. The completion for production of this project will not only increase Kandi's current production capacity for pure EVs, but also accelerate the EV's industrialization process.

The leaders and representatives from National Energy Vehicles Key Project Office, Economic and Information Commission of Zhejiang Province, Huzhou Municipal City and ChangXing County attended the completion for production ceremony and delivered speeches on the success of the production line at Kandi Changxing.

(To view an image of the ceremony and production line, please visit: http://orders.newsfilecorp.com/files/2079/4818_kandi2.jpg )

This new production line combines the advanced production equipment and manufacturing technologies. It also integrates the robust manufacturing concepts and experiences of Kandi technologies and its JV partner, Geely Auto. Through its scientific management of planning, production, logistics, and quality assurance, it brings the EV production to a generalized, standardized and lightweight-aimed process which leads to be more efficiency, more accuracy, as well as more environmental friendly.

Mr. Hu Xiaoming, Chairman of Kandi remarked, "With the unprecedented enthusiasm and unwavering support from all levels of government leaders, Kandi Changxing will take full advantage of the technology strengths and expertise of Kandi/Geely Auto in the EV area to develop pure electric vehicles that consumers can afford to buy and drive while adopting practical business models to provide reliable and convenient services to our customers. Carrying the great expectation as well as the social responsibility, we are confident that Kandi will contribute its part in building the green economy in China."

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