Kandi Technologies Group Inc

Kandi Technologies Group, Inc. is a holding company, which engages in the development, production, and distribution of electric vehicle products and parts. It offers off-road vehicles including ATVs, utility vehicles, go-karts, and electric scooters. The company was founded on March 31, 2004 and is headquartered in Jinhua, China.

Earnings data Q4 2020

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Kandi Technologies reports revenue growth and strategic market expansions

Kandi Technologies Group Inc's Q2 performance reflects revenue growth driven by EV sales and strategic market initiatives.
With a strong financial position and key partnerships, the company is well-positioned for future expansion and revenue diversification.
Challenges include maintaining profitability, navigating market dynamics, and optimizing operational efficiency amidst rapid growth.

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Kandi Technologies Group, Inc. engages in designing, developing, manufacturing, and commercializing electric vehicle (EV) products and EV parts. It offers off-road vehicles including all-terrain vehicles (ATVs), pure electric utility vehicles (UTVs), go-karts, electric scooters, electric self-balancing scooters and associated parts, and lithium-ion cells. The company was founded by Xiao Ming Hu in 2002 and is headquartered in Jinhua, China.

JINHUA, China, Oct.  14, 2019  (GLOBE NEWSWIRE) --  Kandi Technologies Group, Inc.  (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), announced today that according to the executed Purchase Framework Agreement dated September 22, 2019 between its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. ("Kandi Vehicles") and DGL Group Inc. (USA) (“DGL Group”), Kandi Vehicles started delivering the initial batch of 1,232 electric scooters and 37,755 electric self-balancing scooters on October 11, 2019.

Kandi Vehicles Announces Delivery of Electric Scooters and Electric Self-Balancing Scooters

JINHUA, China, Oct.  11, 2019  (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), announced today that in order to have an audit firm more accessible to PCAOB inspections, the Company has appointed Marcum Bernstein & Pinchuk LLP (“MBP”) as the Company’s new independent registered public accounting firm effective October 7, 2019. The appointment of MBP was approved by the Company’s audit committee.

Kandi Technologies Announces Change of Independent Accounting Firm to Marcum Bernstein & Pinchuk LLP

JINHUA, China, Oct.  02, 2019  (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), announced today that Kandi brand electric vehicle (“EV”) model K23, manufactured by the Company’s wholly-owned subsidiary Kandi Electric Vehicles (Hainan) Co., Ltd.* (“Kandi Hainan”), received eligibility for up to $7,500.00 in tax credits under the New Qualified Plug-in Electric Drive Motor Vehicle Credit (the “Credit”) from the Internal Revenue Service. Therefore, new U.S. buyers who purchase model K23 will qualify for the Credit. SC Autosports, LLC (“SC Autosports”), Kandi’s wholly-owned subsidiary, hosted EV model K23 Launch Conference in Garland, Texas during September 21-23, 2019. Over 120 distributors from all over the U.S. attended the conference. After an on-site test drive, the distributors were enthusiastic about K23’s market potential in the U.S. and showed their high interest in distributing model K23. As a result, Kandi Hainan signed a Supply Contract (the “Contract”) for the initial 2000 model K23 with SC Autosports on October 1, 2019. The value of the Contract is about $32 million. According to the Contract, the first 200 vehicles are expected to be delivered by the end of 2019.

Kandi Hainan Manufactured Pure EV Model K23 to be Launched in the American Market

JINHUA, China, Sept.  30, 2019  (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), announced today that to accelerate the growth of Kandi Electric Vehicles Group Co., Ltd (the “JV Company”), Kandi’s wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. ("Kandi Vehicles") signed an Equity Transfer Agreement (the “Transfer Agreement”) in March of 2019 with Geely Technologies Group Co., Ltd. (“Geely”) to transfer certain equity interests. The equity transfer was for the JV Company to utilize Geely’s competitive strength and recognition in the automotive industry to unlock the JV Company’s potentials in branding, manufacturing capability, sales & marketing network, and after-sales service to enhance its competitiveness for greater success. Pursuant to the Transfer Agreement, the parties have agreed that Kandi Vehicles shall sell 21.47% of its equity interests in the JV Company to Geely for a total amount of RMB 516 million (approximately USD 72.4 million*(1)). Upon the completion of the transfer, Kandi Vehicles shall own 22% of the equity interests of the JV Company while Geely shall own 78%. The JV Company has completed the transfer of 21.74% of its equity interests in the JV Company to Geely on September 29, 2019.

 Kandi Technologies Announces the Completion of the Equity Transfer of the JV Company

JINHUA, China, Sept.  23, 2019  (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), today announced that Mr. Hu Xiaoming, Chairman of Kandi, and Mr. Joey Wahba, CEO of DGL Group Inc. (USA) (“DGL Group”) signed a Purchase Framework Agreement (“Agreement”) on behalf of Kandi’s wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (“Kandi Vehicles”) and DGL Group regarding an initial batch order of 300,000 electric scooters and 500,000 electric self-balancing scooters. The total value of the Agreement is expected to be about RMB 500 million (approximately USD 70.5 million). The purchased products are expected to be completed and delivered within one year from the date of signing this Agreement.

Kandi Vehicles Signs Purchase Framework Agreement with DGL Group for 300,000 Electric Scooters and 500,000 Electric Self-Balancing Scooters

Kandi Technologies Group' (KNDI) CEO Hu Xiaoming on Q2 2019 Results - Earnings Call Transcript

Kandi is once again on the revenue growth path.

Kandi: Ideally Positioned For Upcoming Growth

Kandi Technologies Group, Inc. (KNDI) CEO Xiaoming Hu on Q1 2019 Results - Earnings Call Transcript

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Kandi Technologies Group, Inc. (KNDI) CEO Hu Xiaoming on Q4 2018 Results - Earnings Call Transcript

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