Kandi’s JV Company Reveals a First Look at the Global Hawk K21 Pure Electric Passenger Vehicle

JINHUA, China, Aug. 22, 2016 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the "Company" or "Kandi") (NASDAQ:KNDI) today announced that Kandi Electric Vehicles Group Co., Ltd. (the “JV Company,” a 50/50 joint venture between Kandi and Geely Automobile Holdings Ltd.) has unveiled its new pure electric vehicle (“EV”) model named the “Global Hawk K21.” This new all-electric sedan is equipped with automatic braking technology, a voice control system, a infotainment system, remote software update capabilities, and a fully-integrated electrical control system. Packaged with the ternary battery, the vehicle has a top speed of 100+ km/h and a driving range exceeding 150km on a single full charge. The Global Hawk K21 joins the ranks of mid-tier luxury pure electric vehicles offered by the JV Company.

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Mr. Hu Xiaoming, Chairman and CEO of Kandi, commented, “The Chinese government recently issued the final guidance that regulates the booming online ride-hailing services industry, and these guidelines will help promote development while standardizing industry behavior. Ride-hailing services are now in high demand, and this new model developed by the JV Company is designed to meet current market needs. Although the K21 model features a range of advanced technologies, the retail price remains exceptionally competitive. This vehicle is in the application process with the China’s Ministry of Industry and Information Technology (“MIIT”), and we hope to get MIIT approval by the year-end. We anticipate releasing the Global Hawk K21 to the market in the beginning of 2017, and expect to sell more than 30,000 units by the end of that year.”

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. 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.

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Company Contact: Ms. Kewa Luo Kandi Technologies Group, Inc. Phone: 1-212-551-3610 Email: IR@kandigroup.com

Source:Kandi Technologies Group, Inc.