JINHUA, China, Dec. 17, 2012 (GLOBE NEWSWIRE) -- Kandi Technologies, Corp. (the 'Company' or 'Kandi') (Nasdaq:KNDI), a leading Chinese manufacturer and developer of pure electric vehicles (EVs) and all-terrain vehicles (ATVs), today announced that its JNJ6290EV pure electric passenger vehicle jointly developed by Kandi and Zhejiang Zotye Holding Group Co., Ltd. ("Zoyte"), after being approved by Ministry of Industry and Information Technology of China ("MIIT"), has received further approvals from State Administration of Taxation and Insurance Association. Now, the JNJ6290EV model electric vehicles have received all required approval and are ready to be released to the market.
On December 15th, in order for the electric vehicle to be released into the market of Hangzhou city as early as possible, officials from Department of Motor Vehicles ("DMV") of Hangzhou worked over time in the weekend and inspected the Kandi EVs for market release. After a thorough on-site inspection by the officials from Hangzhou DMV, the first batch of 300 electric vehicles have passed the inspection to be qualified for local license plates and are ready for the Hangzhou market.
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Kandi Chairman Mr. Hu with Hangzhou DMV Officials
About Kandi Technologies, Corp.
Kandi Technologies, Corp. (Nasdaq:KNDI) is a manufacturer and exporter of a variety of vehicles in China, making it a world leader in the production of popular off-road vehicles (ORVs). It also ranks among the leading manufacturers in China of all-terrain vehicles (ATVs), specialized utility vehicles (UTVs), and a recently introduced second-generation high mileage, two-seat three-wheeled motorcycle. Another major company focus has been on the manufacture and sale of the COCO electric vehicle (EV), a highly economical, beautifully designed, all-electric super mini-car for neighborhood driving and commuting. The convertible and hardtop models of the COCO EV are available in the United States and other countries, while the Chinese government has approved the sale of Kandi EVs in China since 2010. More information can be viewed at its corporate website is http://www.chinakandi.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.