Kandi Affiliate Fengsheng Automotive Announces Release of Maple 30X “City SUV”

JINHUA, CHINA, July 13, 2020 (GLOBE NEWSWIRE) — Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), today announced that its affiliate company Fengsheng Automotive (the “Affiliate Company” or “Fengsheng”) launched sales of its first pure electric SUV, the Maple 30x. The Maple 30x comes in five styles and five different colors. In addition to the four styles offered in pre-sales earlier this year, Fengsheng also launched its “mobility version” customized for the urban mobility market.

The sales price after subsidy starts at RMB 68,800 (approximately USD $9,825) and goes up to RMB82,800 (approximately USD $11,825) for the premium package.

“The Maple 30X offers an outstanding combination of appearance, performance and value for the urban SUV market, demonstrating our competitiveness in the industry,” commented Xiaoming Hu, Kandi Technologies Chairman and Chief Executive Officer.

The 100% electric Maple 30X is a versatile, compact “city SUV” featuring style, performance and comfort. Its trendy front face adopts the star-shaped polygonal grill design, indicative of the automotive art philosophy of “dynamic aesthetics”, bringing a better visual width and making the vehicle looks more powerful and energetic. This model is mainly positioned to attract young urban professionals.

The interior design style is simple but attractive, using environmentally friendly materials. The air quality in the car is enhanced by the use of low emission coatings, putting the 30X at a leading level in the industry and fully protecting the health of the passengers.

With the Maple 30X motor’s maximum output of 70kw and a maximum torque of 180N.m, the driving range on a full charge is up to 306 km or 190 miles. The model comes with express charging and standard charging options. Express charging enables the vehicle to be charged to 80% in about 30 minutes. A home plug-in charging feature is also available.

The Maple 30 X is equipped with ABS+EBD, four-door window ripple anti-pinch function, tire pressure display system, automatic headlights, pedestrian alarm prompts, GTSM efficient member restraint system and many other security features, which effectively guarantee driving safety.

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua Economic Development Zone, Zhejiang Province, is engaged in the research, development, manufacturing, and sales of various vehicular products. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (“Kandi Vehicles”) and its subsidiaries, SC Autosports, LLC, the wholly-owned subsidiary of Kandi in the United States and Fengsheng Automobile Technology Group Co., Ltd (formerly known as Kandi Electric Vehicles Group Co., Ltd., the “Affiliate Company”). Kandi Vehicles has established itself as one of China’s leading manufacturers of pure electric vehicle parts and off-road vehicles.

In 2013, Kandi Vehicles and Geely Group, China’s leading automaker, jointly invested in the establishment of the Affiliate Company in order to develop, manufacture and sell pure electric vehicle (“EV”) products. Geely Group (including its affiliate) and Kandi Vehicles currently holds 78% and 22% of the equity interests in the Affiliate Company, respectively. The Affiliate Company has established itself as one of the driving forces in the development and the manufacturing of pure EV products in China.

More information about KNDI is available on 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 applicable securities laws, the Company does not assume a duty to update these forward-looking statements.

For More Information:

Kandi Technologies Group, Inc.

Ms. Kewa Luo
Phone: +1 (212) 551-3610
Email: [email protected]

The Blueshirt Group

U.S.:
Mr. Gary Dvorchak
Email: [email protected]

China:
Ms. Susie Wang
Email: [email protected]

Attachment