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Kandi Technologies Breaks Ground on Haikou Production Facility

JINHUA, China, Jan. 28, 2016 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the "Company" or "Kandi") (NASDAQ:KNDI), today announced that it held a groundbreaking ceremony at the construction site of the Haikou production facility (“Haikou Facility”) at Haikou Mei’An Hi-tech Zone. When completed the Haikou Facility is expected to have an annual capacity of 100,000 electric vehicle (EV) products. The ceremony marks the beginning of Haikou Hi-tech Zone’s first project under the government’s 13th Five-Year Plan. Attendees of the ceremony include Ni Qiang, Mayor of Haikou, Ju Lei, Deputy Mayor, Hu Xiaoming, Chairman and CEO of Kandi and other officials of the municipal government.

To view an enhanced version of the Groundbreaking Ceremony _ Haikou Facility 1, please visit:
https://orders.newsfilecorp.com/files/2079/19029_kandi1enhanced.jpg

To view an enhanced version of the Groundbreaking Ceremony _ Haikou Facility 2, please visit:
https://orders.newsfilecorp.com/files/2079/19029_kandi2enhanced.jpg

Mr. Ju Lei, Deputy Mayor, commented, “Kandi’s EV business is a perfect fit for Haikou’s low-carbon manufacturing industry, and will be a strong addition to Haikou’s traditional auto industry chain. The geographic location and ecological protection of Hainan Island makes it an ideal place to promote the adoption of electric vehicles. I believe Kandi’s production facility will bring positive impact on the local economy and be an example for further development in the region. We expect that the Hi-tech Zone will continue to provide convenience and offer the necessary assistance to ensure the smooth and timely construction of the facility.”

Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi, commented, “It has only been 45 days from signing the cooperation agreement with the Haikou municipal government to the construction which was officially kicked off today. This exceptional efficiency is an indicator of the local government’ attention and support, for which we are very grateful. We will make every effort to contribute to Hainan’s economic and eco-environmental development.”

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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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.com

Source:Kandi Technologies Group, Inc.