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Kandi Announces Appointment of New Chief Financial Officer

JINHUA, China, March 24, 2015 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the "Company" or "Kandi") (Nasdaq:KNDI), today announced that Kandi has appointed Mr. Cheng (Henry) Wang as the Company's new Chief Financial Officer, effective May 1, 2015.

Mr. Wang has over 20 years of international financial management experience. Before joining Kandi, Henry served as Chief Financial Officer for Shanghai Always Marketing Service Co., LTD., one of the largest field marketing service agencies in China, leading its procurement and finance departments since May 2014. Prior to that, Mr. Wang worked for Renesola Ltd. (NYSE:SOL), an international leading brand and technology provider of green energy products, initially as the Vice President of Finance, ascending to Chief Financial Officer in July 2011. Mr. Wang holds both certifications as Certified Public Accountants ("CPA") in China and Certified Internal Auditor ("CIA"), and earned a Master's degree in Law from Renmin University of China and a Master's of Business Administration from the Open University of Hong Kong.

Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi, said, "We are pleased to welcome Henry Wang to our management team as the new Chief Financial Officer. His depth of experience in financial management, international business development, and operations will be a significant asset to Kandi. Henry possesses the knowledge and experience to provide broad-based business acumen, financial leadership and risk management to positively impact the business beyond the finance function."

Ms. Zhu Xiaoying (Emily) will transition from her position as Chief Financial Officer of the Company to the same position at Zhejiang Kandi Vehicles Co., Ltd., a wholly-owned subsidiary of the Company. "We greatly appreciate the contributions Ms. Zhu made during her tenure. She has been an important member of our management team and has played a key role in ensuring Kandi's continued growth, by building a strong financial management foundation and establishing key financial capabilities for the Company," said Mr. Hu.

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 vehicle products. Kandi has established itself as the one of China's leading manufacturers of pure electric vehicle ("EV") parts, EV products and off road vehicles. 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 ("SEC") 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: Company Contact: Ms. Kewa Luo Kandi Technologies Group, Inc. Phone: 1-212-551-3610 Email: IR@kandigroup.com IR Contact: Matthew Abenante The Piacente Group Phone: 1-212-481-2050 Email: kandi@tpg-ir.comSource:Kandi Technologies, Corp.