Kandi Technologies Group (KNDI) EV Unit Expects to Exceed Q2 Sales Outlook

Kandi Technologies Group, Inc. (Nasdaq: KNDI) announced that Kandi Electric Vehicles Group Co., Ltd. (the "JV Company", a 50/50 joint venture between Kandi and Geely Automobile Holdings Ltd.) achieved strong sales results in pure electric vehicles (“EVs”) in the second quarter ended June 30, 2016 and expects to exceed its previously announced sales forecast of 5,500 to 6,000 EV products by approximately 10%.

Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi, commented, “Since the publish of the approved Directory of new energy vehicles from State Administration of Taxation in April this year, our EV products have achieved great sales results. The JV Company’s EV sales excel our expectation, which is a strong indicator of market demand and customer satisfaction. We are very confident in maintaining our leadership position in China’s EV industry.”

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