Kandi Technologies Group (KNDI) Sees Surpassing FY15 EV Sales Goal

Kandi Technologies Group, Inc. (Nasdaq: KNDI) announced that Kandi Electric Vehicles Group Co., Ltd. (the "JV Company"*) achieved strong sales of pure electric vehicles (“EVs”) in 2015 and expects to exceed its previously announced sales target for the full year 2015. The Company anticipates the total number of EV sales to exceed the previous guidance range of 20,000 to 22,000 EV products by 5% or more. The Company plans to release audited financial results for the fourth quarter and full year 2015 in March.

Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi, commented, “The JV Company achieved record EV sales in the fourth quarter. Given the robust growth in China’s EV industry we anticipate the strong momentum in the sector to continue in the next few years, which will substantially benefit our business. The Kandi brand and Global Hawk brand pure electric vehicles have been leading China’s market, and we are very confident in maintaining our leadership position in 2016.”

* The JV Company is a 50/50 joint venture between Kandi and Geely Automobile (“Geely”).

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