—First 30x Model Released via Online Launch Ceremony—
—Available for Pre-Order Immediately—JINHUA, CHINA, April 13, 2020 (GLOBE NEWSWIRE) — Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), today announced that Fengsheng Automotive Technology Group Co., Ltd. (the “Affiliate Company” or “Fengsheng”), introduced its first pure electric SUV, the Maple 30x. Available for immediate pre-order, the Maple 30x was revealed in an online brand launch ceremony on April 10th. Video of the ceremony can be viewed here: http://www.kandigroup.com/VedioDetail.aspx?kid=36The 100% electric Maple 30X is a versatile, compact “city SUV” featuring style, performance and comfort. Customers can choose from five colors and four trim levels: “Fengyun Basic”, “Fengfan Style”, “Fengshang Plus”, and “Fenghua Premium”. The 30x has a trendy two-tone exterior design with a contrasting roof in black. Equipped with the Maple 30X GKUI intelligent system inside, the integrated infotainment system provides a combination of entertainment and information for an enhanced in-vehicle experience.With the Maple 30X motor’s maximum output of 70kw, the driving range on a full charge is up to 306 km or 190 miles. The model comes with express charging and standard charging options. Express charging enables the vehicle to be charged to 80% in about 30 minutes. A home plug-in charging feature is also available.The national pre-sale price after subsidy starts at RMB 68,800 (approximately USD $9,778) and goes up to RMB79,800 (approximately $11,342) for the premium package.Production of the Maple 30x started in January, and is currently ready for customer delivery. Fengsheng noted that the Maple 30X is the first Maple model released this year. There will be two more models to be launched later this year: a pure SUV targeting “millennial” families and an MPV model.About Kandi Technologies Group, Inc.Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua Economic Development Zone, Zhejiang Province, is engaged in the research, development, manufacturing, and sales of various vehicular products. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (“Kandi Vehicles”) and its subsidiaries, SC Autosports, LLC, the wholly-owned subsidiary of Kandi in the United States and Fengsheng Automobile Technology Group Co., Ltd (formerly known as Kandi Electric Vehicles Group Co., Ltd., the “Affiliate Company”). Kandi Vehicles has established itself as one of China’s leading manufacturers of pure electric vehicle parts and off-road vehicles.In 2013, Kandi Vehicles and Geely Group, China’s leading automaker, jointly invested in the establishment of the Affiliate Company in order to develop, manufacture and sell pure electric vehicle (“EV”) products. Geely Group (including its affiliate) and Kandi Vehicles currently holds 78% and 22% of the equity interests in the Affiliate Company, respectively. The Affiliate Company has established itself as one of the driving forces in the development and the manufacturing of pure EV products in China.More information about KNDI is available on the Company’s corporate website at http://www.kandivehicle.com. The Company routinely posts important information on its website.Follow us on Twitter: @Kandi_GroupSafe Harbor StatementThis 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 applicable securities laws, the Company does not assume a duty to update these forward-looking statements.Contacts:In China (English or Chinese)Ms. Susie Wang (Wang Yuanheng)
The Blueshirt Group
Phone: +86 (138) 1081-7454
Email: susie@blueshirtgroup.comAttachmentKandi Technologies Group, Inc.
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