JINHUA, China, July 26, 2013 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the 'Company' or 'Kandi') (Nasdaq:KNDI), today announced that the first 100 Kandi-Geely co-developed Pure EVs were delivered for the official launch of the public EV sharing system in Hangzhou City. The first pure EV smart vertical parking and charging facility was recently completed on schedule and started its trial operation. As previously announced, Hangzhou City has laid out an ambitious five-year plan to establish a mini-public transportation system which will include up to 100,000 self-serving rental EVs and all necessary service infrastructure, such as pure EV smart vertical parking and charging facilities, throughout Hangzhou City.
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Since the initial announcement in June, the planned pure EV sharing system has been well received by Hangzhou consumers as well as local political leaders. Ms. Lihua Wang, the Party Secretary of Xihu District, Hangzhou City along with her government delegation visited the first pure EV smart vertical parking and charging facility located in Gudang Technology Park on July 24th to inspect the initial operation to ensure the successful execution of the Hangzhou public EV sharing system.
During the visit, Mr. Xiaoming Hu, the Chairman of Kandi & the General Manager of Zhejiang Kandi Electric Vehicles Co, Ltd. (the "JV Company"), Mr. Jinliang Liu, the Vice President of Geely Auto Holding Group (the "Geely") and the Vice President of Sales & Marketing for the JV Company, and other core team members expressed the appreciation for the visit and the unwavering support from the local government. Mr. Hu and Mr. Liu provided to the delegation a detailed overview on the scope of work for the Hangzhou public EV sharing system and the advantages this project will bring to the city environment and its citizens' commutes.
The Party Secretary Ms. Wang was very satisfied with the progress Kandi has achieved and said in her remarks at the end of her tour, "To establish a mini-public transportation system by using pure EVs greatly enhanced our citizen's convenience for efficient transportation. It is also a giant step forward in terms of improving the urban transportation and the environment. We will continue to provide all government support to Kandi in order to complete the delivery of 5,000~10,000 Kandi pure EVs in Hangzhou City within the next year. We are aiming to establish Xihu District as a national model to implement the public EV sharing system."
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 vehicles. Kandi has established itself as the one of the world's largest manufacturer of pure electric vehicles (EVs), Go-Kart vehicles, and tricycle and utility vehicles (UTVs), among others. More information can be viewed at its corporate website is http://www.kandivehicle.com.
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