JINHUA, China, June 25, 2014 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the "Company" or "Kandi") (Nasdaq:KNDI), today announced that the Mayor of Hangzhou, Mr. Zhang Hongming, along with Vice Mayor, Mr. Xie Shuangcheng and Mr. Zhang Geng, and the Party Secretary, Mr. Wang Hong, as well as other local political leaders, visited Kandi Electric Vehicles Group Co., Ltd. (the "JV Company") twice in June to learn about the progress of the CarShare program. The delegation of political leaders toured the EV smart vertical parking and charging facility in Gudang Technology Park of Xihu District, Hangzhou during the first visit.
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Mr. Hu Xiaoming, Chairman & CEO of Kandi and the President of the JV Company, gave a detailed update on the Hangzhou CarShare program and outlined for the delegation the advantages afforded to the city and its residents by this project, emphasizing the project's impact on the city's environment and its citizens' commutes.
Mr. Zhang is confident that Kandi and Geely's cooperation on promoting the innovative CarShare program will be the best solution to efficiently alleviate Hangzhou's traffic congestion, scarce parking, and environmental pollution. In his final remarks, Mr. Zhang commented: "The CarShare program will have the municipal government's full support and assistance, including special policies allowing for certain benefits, such as the removal of restrictions on driving and license plates."
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 the one of the world's largest manufacturer 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. The Company 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.