Kandi America Launches Powersports Division, Expands Electric Footprint

DALLAS--(BUSINESS WIRE)--

Kandi America, the U.S. subsidiary of Kandi Technologies Group Inc. (NASDAQ GS: KNDI), an international automotive and powersports manufacturer, today announced the formation of a dedicated product division – known as Kandi Powersports – to focus exclusively on bringing Kandi’s unique combination of industry knowledge, cutting edge technologies, and expertise across manufacturing and electric to the powersports market.

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The Trail King electric bike from Kandi Powersports. (Photo: Business Wire)

“Powersports is in our DNA, and by harnessing the technology and innovation Kandi is known for internationally, we are well positioned to build on the success we have experienced in automotive and expand our focus to not only compete but be a recognized leader in powersports,” said Johnny Tai, CEO of Kandi America.

As part of its longer-term growth strategy, Kandi conducted the strategic acquisition of SC Autosports in 2018. With an established powersports dealer network intact, significant interest has already been received from existing dealers eager to carry Kandi Powersports.

“With the synergy of electric expertise and an established dealer network, we believe Kandi will be a household brand in powersports. And the timing is great as interest from outdoor and recreational enthusiasts will only continue to grow as they seek sophisticated yet affordable products that are also good for the environment,” said Tai.

The first products to market include electric ATVs and electric bikes, with additional models to be added over time. In addition, a selection of gas-powered models will be available to support Kandi dealers and keep them competitive while consumer demand for electric continues to grow.

Earlier this month, Kandi America announced 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 that will feature a dedicated area for test drives. 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, including its Kandi Automotive and Kandi Powersports divisions, as well as a show room and distribution center.

About Kandi America

Kandi America is the U.S. subsidiary of Kandi Technologies Group, Inc. (NASDAQ GS: KNDI). Headquartered in Dallas, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210324005627/en/

Bryan Grissom
[email protected]

Source: Kandi America

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