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[BottomBounce]

$KNDI Kandi Technologies to Buy a Texas-Based Vehicle Distributor for $10 Million

"The acquisition is an entry point to gain a compelling opportunity for business integration and market expansion in America which will provide Kandi a solid foundation for the future strategic business development," said Xiaoming Hu, Kandi's chairman and CEO.

Sportsman Country was founded as a joint venture between Massimo Motor and Bennche, two off-road vehicle manufacturers also based in Garland, in 2017. Massimo founder, David Shan, serves as chairman, while Bennche founder, Johnny Tai, serves as president and CEO.

Sportsman Country sells vehicle products and parts under the Massimo, Bennche, and Linhai brands. The company has approximately 20 employees and generated around $1 million in pretax profit in 2017.

Kandi is headquartered in the city of Jinhua in Zhejiang province. The company produces electric vehicles, electric vehicle parts, and off-road vehicles.