Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
JINHUA, China, Jan. 26, 2016 -- Kandi Technologies Group, Inc. (the "Company" or "Kandi") (NASDAQ:KNDI), today announced that Kandi Electric Vehicles Group Co., Ltd. (the “JV Company”, a 50/50 Joint Venture between Kandi and Geely Automobile Holdings Ltd.) has signed a Strategic Cooperation Framework Agreement with Pang Da Automobile Trade Co. Ltd. (“Pang Da”). The scope of the agreement includes, but is not limited to, establishment of Kandi and Pang Da sales teams that will share marketing resources, development of customized new energy vehicle for use at campus, and additionally, Pang Da is authorized to sell Kandi Brand pure electric vehicles (“EVs”) in specific regions.
To view an enhanced version of the Kandi & Pang Da Partnership Signing Ceremony, please visit:
https://orders.newsfilecorp.com/files/2079/19001_kandi1enhanced.jpg
Pang Da, listed on Shanghai Stock Exchange (601258.SS), is China’s leading auto dealership, and has been recognized as one of China’s Top 500 Enterprises. Pang Da began selling Kandi Brand EVs in September 2015, and as of year-end 2015, had sold more than 2,000 Kandi Brand EVs.
The executive management teams from Kandi and Pang Da joined the signing ceremony in Beijing on January 22, 2016. The attendees included Hu Xiaoming, Chairman and CEO of Kandi, Pang Qinghua, Chairman of Pang Da, three representatives from Ssang Yong China Co. Ltd.: Wang Zhihong, General Manager, Liu Bin, Vice President and Gao Qingfeng, Assistant General Manager, Chen Ming, Director of President Office of Kandi, Zheng Tianbao, Regional General Manager of Pang Da Ssang Yong and Li Dianjun, Director of Pang Da New Energy Department.
About Pang Da
Pang Da Automobile Trade Co., Ltd. is primarily engaged in the distribution, repair and maintenance of automobiles. The Company primarily sells and provides services to sedan cars under brands including Mercedes-Benz, Audi, Subaru, Ssang Yong, Brabus, and Volkswagen, among others; trucks; mini-vans; agricultural vehicles; construction machinery vehicles and commercial vehicles, among others. In addition, the Company also involves in the distribution of spare parts and the provision of after-sale services. Pang Da operates business through its 4S shops and wholly owned subsidiaries throughout China.
About Kandi Technologies Group, Inc.
Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua, Zhejiang Province, is engaged in the research and development, manufacturing and sales of various vehicle products. Kandi has established itself as one of China's leading manufacturers of pure electric vehicle ("EV") products (through its joint venture), EV parts and off-road vehicles. More information can be viewed at the Company's corporate website at http://www.kandivehicle.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 securities laws, the Company does not assume a duty to update these forward-looking statements.
Follow us on Twitter: @ Kandi_Group
Company Contact: Ms. Kewa Luo Kandi Technologies Group, Inc. Phone: 212-551-3610 Email: [email protected] IR Contact: The Piacente Group Phone: 212-481-2050 Email: [email protected]
