JINHUA, China, July 15, 2013 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the 'Company' or 'Kandi') (Nasdaq:KNDI), today announced at the 2013 China (Hangzhou) International Green Vehicle Industry Expo, Kandi showcased several models of its electric vehicles for the mini-public transportation system which will be launched by Zhejiang ZuoZhongYou Electric Vehicle Service Co., Ltd. ('ZZY EV Service Company'). Kandi's electric vehicles were highly recognized by the audience at the show. The visitors & citizens are very looking forward to the new mini public transportation system of pure electric vehicles in the city and believe the new system will improve the efficiency of urban transportation, and help ease traffic congestion, scarcity of parking, and environmental pollution. The new mini-public transportation by EVs has become a hot topic in Hangzhou city and brings a storm of new energy vehicle discussion in the city.
(To view an image of the electric vehicles, please visit: http://orders.newsfilecorp.com/files/2079/6037_nr_enlarged.jpg )
The first pure EV smart vertical parking and charging facility at Gudang Technology Park of Xihu District, invested and built by ZZY EV Service Company has been completed and will start in operation soon. The additional pure EV smart vertical parking and charging facilities and network are in the process orderly. ZZY EV Service Company anticipates to deploy 5,000-10,000 Kandi brand pure EVs in Hangzhou City within one year from now.About Kandi Technologies Group, Inc. Kandi Technologies Group, Inc. (Nasdaq:KNDI), headquartered in Jinhua, Zhejiang Province, is engaged in the research and development, manufacturing and sales of various vehicles. Kandi has established itself as the one of the world's largest manufacturer of pure electric vehicles (EVs), Go-Kart vehicles, and tricycle and utility vehicles (UTVs), among others. More information can be viewed at its corporate website is http://www.kandivehicle.com . 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 securities laws, the Company does not assume a duty to update these forward-looking statements.
CONTACT: Kandi Technologies Group, Inc. China: Email: IR@kandigroup.com Phone: 86-579-82239856 U.S.A.: Email: IR@kandigroup.com Phone: 1-212-551-3610
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