More information can be viewed at the Company's corporate website at http://www.kandivehicle.com. The Company routinely posts important information on its website.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. Follow us on Twitter: @ Kandi_Group Company Contact: Ms. Kewa Luo Kandi Technologies Group, Inc. Phone: 1-212-551-3610 Email: IR@kandigroup.com
JINHUA, China, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS:KNDI) (the "Company" or "Kandi") announced today that the Global Hawk SUV model K26 developed by the JV Company Research Institute has passed its own internal quality checks and evaluation given by auto professionals. This SUV is equipped with an advanced drive motor, vehicle control system (user remote control over vehicle software and remote monitoring), and regenerative braking that recovers over 18% of the vehicle's kinetic energy. Packaged with the ternary lithium battery, the vehicle has a top speed of 110 km/h and a driving range exceeding 250 km on a single charge. This SUV is ranked the top luxury pure electric vehicle developed by the JV Company. Global Hawk SUV Model K26 To view an enhanced version of Global Hawk SUV Model K26, please visit: http://orders.newsfilecorp.com/files/2079/31547_a1513948702420_59.jpg Mr. Hu Xiaoming, Chairman and CEO of Kandi, commented, "In recent years, we have seen a shift in demand by Chinese consumers from other vehicles to SUVs. According to the data, SUVs make up more than 40% of the market in 2016, and industry experts estimate that the figure will grow to be over 50% in 2017. Therefore, the JV Company steered its focus to develop pure electric SUVs to meet such market's surging demand. The internal quality checks approval will help accelerate model K26's production. We expect that it will successfully pass the National Authority's test and obtain the product announcement and directory approval by the government. We look forward to seeing the market share expansion and economic returns by and to the JV Company after the official launch of K26." About Kandi Technologies Group, Inc. Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua, Zhejiang Province, is engaged in the research and development, manufacturing and sales of various vehicle products. Kandi has established itself as one of China's leading manufacturers of pure electric vehicle ("EV") products (through its joint venture), EV parts and off-road vehicles. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. ("Kandi Vehicles"), and the partially and wholly-owned subsidiaries of Kandi Vehicles.