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Kandi Technologies Announces The Delivery Of First 100 Kandi-Geely Co-Developed Pure EVs For The Official Launch Of Hangzhou's Public EV Sharing System

Stocks in this article: KNDI

JINHUA, China, July 26, 2013 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the 'Company' or 'Kandi') (Nasdaq:KNDI), today announced that the first 100 Kandi-Geely co-developed Pure EVs were delivered for the official launch of the public EV sharing system in Hangzhou City. The first pure EV smart vertical parking and charging facility was recently completed on schedule and started its trial operation. As previously announced, Hangzhou City has laid out an ambitious five-year plan to establish a mini-public transportation system which will include up to 100,000 self-serving rental EVs and all necessary service infrastructure, such as pure EV smart vertical parking and charging facilities, throughout Hangzhou City. 

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Since the initial announcement in June, the planned pure EV sharing system has been well received by Hangzhou consumers as well as local political leaders. Ms. Lihua Wang, the Party Secretary of Xihu District, Hangzhou City along with her government delegation visited the first pure EV smart vertical parking and charging facility located in Gudang Technology Park on July 24 th to inspect the initial operation to ensure the successful execution of the Hangzhou public EV sharing system.

During the visit, Mr. Xiaoming Hu, the Chairman of Kandi & the General Manager of Zhejiang Kandi Electric Vehicles Co, Ltd. (the "JV Company"), Mr. Jinliang Liu, the Vice President of Geely Auto Holding Group (the "Geely") and the Vice President of Sales & Marketing for the JV Company, and other core team members expressed the appreciation for the visit and the unwavering support from the local government. Mr. Hu and Mr. Liu provided to the delegation a detailed overview on the scope of work for the Hangzhou public EV sharing system and the advantages this project will bring to the city environment and its citizens' commutes.

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