Kandi Brings America’s Most Affordable Electric Vehicles to Market, Announces August 18 Virtual Event to Kick-off Pre-Sales

Auto manufacturer unveils “Kandi. Auto EVolution for all.” campaign and EV giveaway

GARLAND, Texas--()--Kandi America, the U.S. subsidiary of Kandi Technologies Group, Inc. (NASDAQ GS: KNDI), an international automotive manufacturer, announced today its formal launch of the most affordable electric vehicles (EVs) on the U.S. market, with an initial focus on the Dallas-Fort Worth metroplex.

In conjunction, it has unveiled the “Kandi. Auto EVolution for all” campaign that centers around a live virtual launch event on August 18 to kick-off pre-sales and allow customers to put a fully-refundable $100 deposit down for models K27 and K23, which will be available for delivery in fourth quarter 2020.

“Electric vehicles have been valued for years for their efficiency, sustainability and innovation. However, owning the ‘it’ car often eluded consumers who desired a great EV alongside all the other comforts of modern living. Kandi changes that and revolutionizes the EV-buying experience for many,” said Johnny Tai, CEO of Kandi America. “At Kandi, we are on a mission to make electric cars accessible for all. With these first two models, we are starting an Auto EVolution that will allow anyone, regardless of their financial status, to afford a reliable, high-tech EV.”

The virtual launch will take place at 10 a.m. CST on August 18. Participants will engage in a meaningful experience, including an exclusive look at the sleek design and advanced technology features of models K27 and K23. Kandi will also conduct a drawing, with the lucky winner receiving a model K23. Registration for the giveaway will open in August.

Priced at $12,999 after federal tax credits, the K27 is the compact model with ample interior space that can comfortably accommodate up to four passengers. The car features a 17.69 kWh Lithium battery and a driving range up to 100 miles, making it an ideal automobile for urban driving.

For those in the market for a larger vehicle with more trunk space, the K23 is an affordable option at $22,499 after federal tax credits. The size of a small SUV, this model includes a 41.4 kWh Ternary Lithium battery and a driving range of more than 180 miles.

“This is an exciting time for Kandi Technologies as we successfully roll-out the sales of the K27 and K23 in the United States,” said Kewa Luo, Investor Relations Director of Kandi Technologies Group. "Since early 2019, we have been working hard to identify the right distributor, secure regulatory approvals and demonstrate readiness for success in this emerging and dynamic market. With those milestones achieved, we now look forward to this exciting next phase of growth.”

To register for the virtual event, visit www.drivekandi.com.

About Kandi America

Kandi Technologies Group, Inc. (NASD:KNDI) acquired SC Autosports, LLC in 2018 to be its exclusive U.S. distributor, operating as Kandi America. Headquartered in Garland, Texas, Kandi America specializes in the development, manufacturing and commercialization of electric vehicles, all-terrain vehicles, battery packs, automobile motors, controllers for electric vehicles, and air-conditioning systems. For more information, visit www.kandiamerica.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 applicable securities laws, the Company does not assume a duty to update these forward-looking statements.

Contacts

Media Contact:
Jennifer Powell / Megan Frye
jpowell@piercom.com / mfrye@piercom.com
972-567-3937 / 214-499-4820

Release Summary

Kandi brings America’s most affordable electric vehicles to market and announces August 18 virtual event to kick-off pre-sales

Contacts

Media Contact:
Jennifer Powell / Megan Frye
jpowell@piercom.com / mfrye@piercom.com
972-567-3937 / 214-499-4820