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Over 700 Kandi's Pure EVs Utilized in China's Group Leasing Model in the Nation's First Pure EV Pilot Community

JINHUA, China, June 5, 2014 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the "Company" or "Kandi") (Nasdaq:KNDI), celebrated the establishment of the nation's first pure EV pilot community at the Kandi pure EV (Electric Vehicle) launching ceremony held at Zhuantang Xiangshan International Plaza in the Lake District of Hangzhou. To date, more than 700 Zhuantang district residents have registered for the EV long-term group leasing program.

Officials from Hangzhou City Commission of Economy and Information Technology, Xihu District Government, Zhijiang Resort Working Committee, Hangzhou Wenguang Group, West Lake District Zhuantang Street Community, Kandi Electric Vehicles Group Co., Ltd. (the "JV Company", jointly owned by Zhejiang Kandi Vehicles Co., Ltd., the Company's wholly-owned subsidiary and Shanghai Maple Guorun Automobile Co., Ltd., Geely Automobile Holdings Ltd.'s 99% owned subsidiary), Zhejiang ZuoZhongYou Electric Vehicle Service Co., Ltd, and other related community leaders and guests attended the ceremony.

At the ceremony, the Company's President, Hu Xiaoming, remarked "While the JV Company is marketing the CarShare program in the center area of Hangzhou, the group leasing model is an additional initiative to promote this convenient and environmentally friendly transportation option, which is ideal to the suburban and rural residents, large government entities and corporations. With the help of Kandi's EVs, Zhuantang District has become the nation's first pure EV pilot community. This model is integral to the establishment and success of the "green transportation and intelligent city" mission and help accelerate Kandi's EV sales. Kandi will continue to dedicate itself to the mission and work to ensure that the implementation of EVs will progress efficiently to improve urban traffic and the environment."

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (Nasdaq:KNDI), headquartered in Jinhua, Zhejiang Province, is engaged in the research and development, manufacturing and sales of various vehicles. Kandi has established itself as one of the world's largest manufacturers of pure electric vehicles (EVs), Go-Kart vehicles, and tricycle and utility vehicles (UTVs), among others. More information can be viewed at its corporate website is http://www.kandivehicle.com. Kandi 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.

CONTACT: Kandi Technologies Group, Inc. Ms. Kewa Luo Phone: 1-212-551-3610 Email: IR@kandigroup.comSource:Kandi Technologies, Corp.