JINHUA, China, Aug. 31, 2016 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the "Company" or "Kandi") (NASDAQ: KNDI ), today announced that the “Micro Public Transportation Program” or “MPT Program,” the program operated by Zhejiang ZuoZhongYou Electric Vehicle Service Co., Ltd, along with other programs and brand experiences such as the “Free West Lake Tour,” the “Beijing-Hangzhou Grand Canal,” the “Xixi National Wetland Park,” the “Right-of-Way in the Crosswalk,” and the “Hangzhou Resident Identification Card,” has been recognized as a “Hangzhou Top20 Best Brand Experiences” in the “G20 Top20.” Descriptions of the winners will be included in the official brochure given as a city souvenir to all reporters and participants attending the upcoming G20 summit. The MPT Program was the only winner in the renewable energy vehicle sector.
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Mr. Hu Xiaoming, Chairman and CEO of Kandi, commented, “We are very pleased that the Micro Public Transportation Program received the ‘G20 Top20’ recognition award. This is a fantastic acknowledgement from the government and residents of Hangzhou of the successful implementation of the MPT Program. We believe that the MPT Program will leave a lasting positive impression on attendees from around the world during the upcoming G20 summit.”
About the G20
The G20 (or G-20 or Group of Twenty ) is an international forum for governments and central bank governors from 20 major economies. It was founded in 1999 with the aim of studying, reviewing, and promoting high-level discussion of policy issues pertaining to the promotion of international financial stability. It seeks to address issues that go beyond the responsibilities of any one organization. The G20 heads of government or state have periodically conferred at summits since their initial meeting in 2008, and the group also hosts separate meetings of finance ministers and central bank governors. The 2016 G20 Hangzhou summit will be held on September 4–5, 2016, in the city of Hangzhou, Zhejiang. It is also the first ever G20 summit to be hosted in China.
About Zhejiang ZuoZhongYou Electric Vehicle Service Co., Ltd.
Established in July 2013, Zhejiang ZuoZhongYou Electric Vehicle Service Co., Ltd. (“ZZY”) is a service company engaged in various pure EV leasing business services. Kandi Technologies Group, Inc.'s wholly owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. owns 9.5% of ZZY.
About Kandi Technologies Group, Inc.
Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua, Zhejiang Province, is engaged in the research and development, manufacturing and sales of various vehicle products. Kandi has established itself as one of China's leading manufacturers of pure electric vehicle ("EV") products (through its joint venture), EV parts and off-road vehicles. More information can be viewed at the Company's corporate website at http://www.kandivehicle.com . The Company routinely posts important information on its website.
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 securities laws, the Company does not assume a duty to update these forward-looking statements.
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Company Contact: Ms. Kewa Luo Kandi Technologies Group, Inc. Phone: 1-212-551-3610 Email: IR@kandigroup.com
