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Kandi Technologies Announces the JV Company's Plan to Sell 1,500 Electric Vehicles for Launching Micro Public Transportation Program in the Cities of Tianjin and Jiangyin

JINHUA, China, Jul 21, 2016 (GLOBE NEWSWIRE via COMTEX) --

Kandi Technologies Group, Inc. (the "Company" or "Kandi") KNDI, +3.67% today announced that Kandi Electric Vehicles Group Co., Ltd. (the "JV Company", a 50/50 Joint Venture between Kandi and Geely Automobile Holdings Ltd.) plans to sell 1,000 and 500 electric vehicles ("EVs") to the two cities in China, namely, Tianjin and Jiangyin, respectively, ZuoZhongYou (Tianjin) Electric Vehicle Service Co., Ltd. ("ZZY-Tianjin") and ZuoZhongYou (Jiangyin) Electric Vehicle Service Co., Ltd. ("ZZY-Jiangyin"), wholly owned subsidiaries of Zhejiang ZuoZhongYou Electric Vehicle Service Co., Ltd. ("ZZY") have obtained the registration approval from the local State Administration of Industry and Commerce for the formation. The Micro Public Transportation ("MPT") Program is expected to be officially launched and administered by ZZY-Tianjin and ZZY-Jiangyin with the expectation for the delivery of 1,000 EVs in Tianjin and 500 EVs in Jiangyin by the end of 2016.

Tianjin, one of four direct-controlled municipalities of China, is a central city in China and the center of the Bohai Bay Economic Rim, with a total municipal population of over 15 million. Tianjin is well-known as the base for advanced manufacturing industry in China. It also regularly hosts the World Economic Forum, Annual Meeting of the New Champions, also known as the...


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