Kandi Technologies Endorses New Energy Vehicle Policy Released by China's Central Government

JINHUA, China, Sept. 30, 2015 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the "Company" or "Kandi") (NASDAQ:KNDI), today endorsed China's latest policy on new energy vehicle (NEV) development that was released by China's Prime Minister Li Keqiang during a State Council meeting on Sept 29th. The new policy requires government organizations, institutions and public transportation departments to increase the number of NEVs, in use. The Prime Minister also indicated that local governments should not set traffic controls and purchase quotas on NEVs.

Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi commented, "The recent policy is a strong signal by the Central Government for its continuous support and confidence in developing the NEV industry. As China's leading pure EV manufacturer, Kandi will benefit from the new policy and accelerate its market expansion. Our Micro Public Transportation Program (MPT) is the most scalable EV share program in China and we believe this program will achieve great success with the government's unwavering support."

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (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 one of China's leading manufacturers of pure electric vehicle ("EV") products (through its joint venture), EV parts and off-road vehicles. More information can be viewed at the Company's corporate website at http://www.kandivehicle.com.

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.

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CONTACT: Company Contact: Ms. Kewa Luo Kandi Technologies Group, Inc. Phone: 212-551-3610 Email: IR@kandigroup.com IR Contact: The Piacente Group Phone: 212-481-2050 Email: kandi@tpg-ir.comSource:Kandi Technologies Group, Inc.