Kandi Electric Vehicles Group (KNDI), Shanxi Coal Enter Strategic Cooperation Agreement

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Kandi’s JV Company Expands Sale of EVs into Shanxi Market

October 20, 2016 9:15 AM EDT

JINHUA, China, Oct. 20, 2016 (GLOBE NEWSWIRE) -- 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 agreement with Shanxi Coal Asset Management Group (Shanxi Coal) to sell over 50,000 electric vehicles (EVs) during a five-year cooperation period. The agreement was signed by Mr. Hu Xiaoming, Chairman of the JV Company and Mr. Wang Jianping, Chairman of Shanxi Coal.

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