Kandi Technologies Partners with CATL to Advance Electric Infrastructure
Jinhua, China - Kandi Technologies Group, Inc. (NASDAQ: KNDI), known for its innovations in electric vehicles, has made significant strides in advancing electric truck infrastructure. The company has announced a landmark order for heavy-truck battery swap station equipment through its subsidiary, China Battery Exchange (Zhejiang) Technology Co., Ltd. This partnership with Contemporary Amperex Technology Co., Ltd. (CATL) marks a pivotal move in Kandi’s strategic path towards enhancing electric mobility solutions.
Significance of the New Contract
The recent contract is more than just an order; it represents Kandi's official entry into CATL's esteemed global supplier network. With CATL's ambitious goal of establishing 500 battery swap stations by the end of the year, and the vision to expand to over 10,000 across the nation, Kandi is poised to play a crucial role in this transformative journey.
As part of this agreement, Kandi will provide vital components such as core station structures, advanced robotic systems, and precision-engineered temperature-controlled battery compartments specifically designed for heavy-duty trucks. This equipment will facilitate efficient battery exchanges and support the growing demand for sustainable transportation alternatives.
CEO's Insight on the Partnership
Feng Chen, the CEO of Kandi Technologies, expressed enthusiasm about the partnership, stating that this order epitomizes a significant achievement for the company. It not only validates Kandi's position as a leader in standardized battery swap technology but also reinforces the company's commitment to supporting the national electric vehicle infrastructure.
Chen emphasized, "As part of CATL’s visionary ‘Ten Thousand Station Plan,’ we see an opportunity to drive the adoption of battery swapping technology, enhancing convenience for logistics companies and truck operators alike. This collaboration unlocks long-term value for our company and shareholders and positions us at the forefront of the new energy revolution."
About Contemporary Amperex Technology Co., Ltd.
Established in 2011, CATL has emerged as a powerhouse in the lithium-ion battery industry, focusing on innovative solutions for new energy applications. The organization has made remarkable contributions to the fields of battery systems and energy storage technologies, solidifying its status as a global leader. Notably, CATL led the world in lithium battery shipments in 2017, showcasing its robust influence in the international market.
About Kandi Technologies Group, Inc.
Kandi Technologies, based in Jinhua, China, is recognized for its commitment to developing all-electric vehicles and utility solutions. While focusing on off-road mobility, the company also targets opportunities in progressive technology sectors. Kandi is leveraging its extensive manufacturing capabilities coupled with technological expertise to create innovative products relevant for a diverse audience, ensuring they meet the evolving demands of consumers and businesses.
For those interested in Kandi Technologies, further information can be found on their corporate website at ir.kandigroup.com.
For Investor and Media Inquiries
Kandi Technologies Group, Inc.
Kewa Luo
Tel: +1 (212) 551-3610
Email: IR@kandigroup.com
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: Kandi@thepiacentegroup.com
Piacente Financial Communications
Hui Fan
Tel: +86-10-6508-0677
Email: Kandi@thepiacentegroup.com
Frequently Asked Questions
What is Kandi Technologies' recent achievement?
Kandi Technologies has secured its first order for heavy-truck battery swap station equipment from CATL.
What is the significance of the 'Ten Thousand Station Plan'?
This plan aims to establish a vast network of battery swap stations, enhancing electric vehicle infrastructure nationwide.
How does Kandi fit into CATL's supplier ecosystem?
Kandi's equipment supplies essential components for CATL's battery swap stations, integrating Kandi into a major supply chain.
What products will Kandi provide under this contract?
Kandi will deliver core station structures, robotic systems, and controlled battery compartments for heavy-duty trucks.
Who can I contact for further information about Kandi?
For inquiries, you can reach Kandi Technologies' investor relations at IR@kandigroup.com or call +1 (212) 551-3610.
