Kandi Technolgies Corp (KNDI)

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Kandi Technologies Announces Plan to Launch the Public EV Sharing System Pilot Project in Shanghai

JINHUA, China, April 14, 2014 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the "Company" or "Kandi") (KNDI), announced today that Mr. Jing Ma, the Deputy Director of Electric Vehicles Development from the Shanghai Municipal Commission of Economic and Information Technology, Standing Committee member from Shanghai Jinshan District, along with the Vice Mayor of Jinshan District, Mr. Huadi Shen, and other government officials visited Kandi Electric Vehicles (Shanghai) Co., Ltd. ("Kandi Shanghai") to finalize the plan to launch the Public EV Sharing System Pilot Project (the "Project") in Jinshan District of Shanghai.

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Mr. Xiaoming Hu, General Manager of Kandi Electric Vehicles Group Co., Ltd. (the "JV Company", which changed its name at the end of March from Zhejiang Kandi Electric Vehicle Co., Ltd. to Kandi Electric Vehicles Group Co., Ltd with approval from China State Administration of Industry and Commerce), Mr. Jian Yang, Vice Chairman of Geely Automobile Holding Ltd., Mr. Jinliang Liu, Vice President of the JV Company and Mr. Wei Yu, Vice President of the JV Company, and General Manager of Kandi Shanghai together hosted the delegation group.

Mr. Jing Ma and his delegation visited Kandi Shanghai's production base where they test drove two Kandi Brand Pure EVs—the SMA7000BEV and SMA7001BEV models. Mr. Xiaoming Hu and Mr. Jian Yang presented Kandi Shanghai's plan to start the project with the delivery of a targeted 3000-5000 Kandi Brand pure EVs by the end of 2014. Mr. Jing Ma was satisfied with Kandi Shanghai that it had completed the facility construction and launched the scaled production within a short period. He affirmed Kandi's business orientation in applying the pure electric vehicles to public transportation and the government's