Kandi Technologies Undertakes Major Management Transformations

Strategic Leadership Changes at Kandi Technologies Group

JINHUA, CHINA, — Kandi Technologies Group, Inc. (NASDAQ: KNDI), renowned for its all-electric personal transportation and utility vehicles, has unveiled critical changes to its Board of Directors and executive management team. This strategic shift, effective immediately, exemplifies the company's dedication to long-term growth and operational resilience.

Transition in Board Leadership

The company has acknowledged Mr. Xiaoming Hu's resignation as Chairman of the Board after years of committed service. Although he steps down from the Chairman role, Mr. Hu will continue to be a Director, providing invaluable insights during his transition into retirement. His leadership has been pivotal in positioning Kandi for future successes.

Mr. Hu's Reflections

Expressing his thoughts, Mr. Hu stated, “As I prepare for retirement, I am confident Kandi is poised for great achievements in the future. The new management team is robust, and our diverse vehicle lineup has never looked better. The shift toward off-road vehicles is proving beneficial, particularly in the U.S. market. We are actively pursuing various initiatives to fortify our position, and I look forward to sharing these exciting updates soon.”

New Chairman and CEO Announced

In a significant move, the Board has elected Dr. Xueqin Dong as the new Chairman, effective immediately. Dr. Dong's experience and influence have been instrumental in Kandi's growth, and he is now tasked with leading the company through these transformative times. He expressed gratitude to Mr. Hu for his remarkable contributions and emphasized his commitment to steering Kandi toward fulfilling its potential.

Mr. Feng Chen Takes the Helm as CEO

Additionally, Kandi has appointed Mr. Feng Chen as its Chief Executive Officer. Mr. Chen brings over two decades of experience in strategic planning and innovation within the electric vehicle sector. His previous roles include CEO positions in Time Space Electric Vehicles Co., Ltd. and Hangzhou Lightning Mobility Technology Co., Ltd., where he excelled in technology advancements and operational expansion. Under his leadership, Kandi aims to enhance its focus on the all-electric off-road vehicle market and broaden sustainable mobility solutions. Mr. Chen highlighted, “I am thankful for the trust placed in me by the Board. Our management team is diligently working on initiatives that will shape the future of Kandi. I believe that through effective execution and a unified strategy, we can achieve remarkable outcomes and generate lasting value.”

Strategic Initiatives and Future Plans

On the same day, Kandi's Board of Directors sanctioned a series of strategic initiatives aimed at propelling innovation in the all-electric off-road vehicle and mobility sectors. The details of these promising initiatives are expected to be shared soon, showcasing the company's commitment to leading in these evolving markets.

Overview of Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua New Energy Vehicle Town, Zhejiang Province, specializes in the research, development, manufacturing, and sales of a wide range of vehicular products. The company primarily operates through its subsidiary, Zhejiang Kandi Technologies Group Co., Ltd., and is recognized as a leader in producing electric vehicle components and off-road vehicles.

Frequently Asked Questions

What recent changes have occurred at Kandi Technologies?

Kandi Technologies announced modifications in its Board of Directors and management, including Mr. Xiaoming Hu's resignation as Chairman and Dr. Xueqin Dong's appointment as the new Chairman.

Who is the new CEO of Kandi Technologies?

Mr. Feng Chen has been appointed as the new CEO and brings extensive experience from the electric vehicle sector to lead Kandi's strategic initiatives.

What is the focus of Kandi's new management strategy?

The new management team aims to expand Kandi's presence in the all-electric off-road vehicle market and enhance innovative sustainable mobility solutions.

When did these leadership changes take effect?

The changes were effective on October 6, 2024, marking a significant transition for the company.

What can shareholders expect from Kandi Technologies in the future?

Shareholders can anticipate updates on new strategic initiatives aimed at driving innovation and delivering sustainable value, enhancing Kandi's competitive edge in the market.

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