Kandi America Announces Distribution Plans, Seeks Authorized Dealer Engagements

·4-min read

International auto manufacturer’s U.S. launch set for August 18 with virtual event

Kandi America, the U.S. subsidiary of Kandi Technologies Group Inc. (NASDAQ GS: KNDI), an international automotive manufacturer, today announced plans for distribution as it nears the formal launch of the most affordable electric vehicles (EVs) on the U.S. market.

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Kandi is actively seeking authorized dealer engagements and entertaining inquiries from dealerships across the U.S. Additionally, with its sights set on further international expansion, Kandi America continues to receive distribution inquiries from around the world, including from Canada, Brazil, Mexico, India, Romania, Bulgaria, Australia and Ecuador.

"At this time, our primary objective is to establish and maintain the best retail electric vehicle distribution network in the industry," said Brandon Ballard, Director of Business Development for Kandi America. "Only through a robust, fully engaged, dedicated and trustworthy dealer network can we accomplish our vision of sparking a true Auto EVolution for all."

Consumer interest for the K23 and K27 continues to grow with requests for test drives skyrocketing since last week. Kandi America will unveil additional information to consumers, dealers and other stakeholders during its virtual launch event at 10 a.m. CST on August 18. To register, visit DriveKandi.com.

"The large amount of inquiries we have received since announcing our U.S. market launch last week is very exciting. We have already fielded substantial interest from dealers and started to review their qualifications," said Johnny Tai, CEO of Kandi America. "The overwhelmingly positive response we have received thus far underscores U.S. consumers’ increasing appetite for an affordable electric vehicle option. In fact, many have asked to reserve a Kandi prior to the launch."

An announcement will be made early next week pertaining to pre-sales and the ability to make a $100 refundable deposit. Those interested in owning a Kandi EV have access to a $7,500 federal tax credit, depending on eligibility, which will reduce the K23 price to $22,499 and K27 price to $12,499. The vehicles will be available for delivery starting in fourth quarter 2020.

Prospective dealers looking to gain additional information on how to become a Kandi America partner can visit KandiAmerica.com/dealer-inquiry.

About Kandi America

SC Autosports, LLC is the U.S. subsidiary of Kandi Technologies Group, Inc. (NASDAQ GS:KNDI), doing business under the name "Kandi America". Headquartered in Garland, Texas, Kandi America is primarily engaged in the wholesale of off-road vehicle products and distribution of electric vehicles. Since 2008, Kandi Technologies has been publicly traded on the Nasdaq Stock Exchange under the symbol KNDI. Kandi Technologies acquire SC Autosports in 2018 to be its exclusive U.S. distributor. For more information, visit www.KandiAmerica.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 applicable securities laws, the Company does not assume a duty to update these forward-looking statements.

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