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Kandi Technologies Reports The Progress Update On Hangzhou's Public EV Sharing System

JINHUA, China, Aug. 9, 2013 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the 'Company' or 'Kandi') (Nasdaq:KNDI), today announced that the construction of pure EV smart vertical parking and charging facilities for public EV sharing system (the 'Project') is right on schedule. According to the updated progress report, there will be five pure EV smart vertical parking and charging facilities completed in the coming September. By the end of 2013, 30-40 pure EV smart vertical parking and charging facilities are expected to be built in Hangzhou City. In a year from now, 5,000 to 10,000 Kandi pure EV 'JNJ6290EV' model and Kandi-Geely co-developed Brand 'JL7001BEV' will be deployed in Hangzhou City based on the progress.

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On August 8 th, 2013, Mr. Dangqi Zhu, Mayor of Xihu District, Hangzhou City along with his delegation group: Executive Deputy Mayors of Xihu District Mr. Fei Tan and Mr. Weibing Zhou and other government officials of Xihu District visited Zhejiang Kandi Electric Vehicles Co., Ltd. ('the "JV Company") to check on the public EV sharing project. The second local government delegation's visit after Ms. Lihua Wang Party Secretary of Xihu District, Hangzhou City visited on July 24 th, 2013.

Mayor of Xihu District, Mr. Dangqi Zhu and his delegation group visited the first pure EV smart vertical parking and charging facility, then came to the headquarter office of the JV Company in the district. Mr. Xiaoming Hu, the Chairman of Kandi & the General Manager of the JV Company provided a detailed introduction on the Hangzhou public EV sharing system and the progress updates. Mr. Hu is confident the 5,000-10,000 Kandi brand EVs will be deployed within a year.

During the meeting, Mr. Dangqi Zhu spoke highly of the project implementation and believed it will provide the citizens more convenient commuting environment. The project will also make urban transportation different. Mr. Zhu added in his final remarks, "our government will continue to provide the best support to Kandi to ensure the successful execution of the Hangzhou public EV sharing system. We hope Xihu District becomes a national model of "Green transportation, Intelligent China."

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