Kandi America Announces Headquarter Relocation, Expansion Plans

March 8, 2021 10:09 AM EST

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GARLAND, Texas--(BUSINESS WIRE)-- Kandi America, the U.S. subsidiary of Kandi Technologies Group Inc. (NASDAQ GS: KNDI), an international automotive manufacturer, today announced its plans for future expansion, starting with a substantial investment made to relocate its corporate headquarters from Garland to a premier location near the intersection of U.S. Highway 75 and Forest Lane. The purchase closed on March 4 with an anticipated move date in April.

Located at 8050 Forest Lane, the 54,372-square-foot building sits on a 5-acre lot and will house Kandi America’s corporate offices, as well as a show room and distribution center for its electric vehicles. In addition, it will feature a dedicated area for test drives.

“Thanks to the vision and support of Chairman Hu, this relocation comes at an exciting time as Kandi doubles down on its investment in the U.S. and further cements its roots as a leader in all things electric,” said Johnny Tai, CEO of Kandi America. “This move is both a strategic and logical next step in our growth strategy, and we look forward to sustained and healthy growth in the new space.”

The company’s long-term strategic plans include continued investment in the development and rollout of electric vehicles and powersports. Additional details will be announced in the coming weeks.

“We look forward to moving into our new building in the very near future and offering a great work environment for our employees while nurturing innovation and providing superior service to our customers,” Tai said.

About Kandi America

Kandi America is the U.S. subsidiary of Kandi Technologies Group, Inc. (NASDAQ GS: KNDI). Headquartered in Garland, Texas, Kandi America is primarily engaged in the wholesale distribution of off-road vehicle products and electric vehicles. Since 2008, Kandi Technologies has been publicly traded on the Nasdaq Stock Exchange under the symbol KNDI. For more information, visit 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.

Johnny Tai
news@kandiamerica.com

Source: Kandi America



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