Kandi JV Company Expands Efforts to Attract Renewa

JINHUA, China, Sept. 29, 2017 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ: KNDI ) (the "Company" or "Kandi"), today announced that Kandi Electric Vehicles Group Co, Ltd. (the “JV Company”) and Hangzhou Vocational & Technical College (“Hangzhou V&T College”) held a signing ceremony at which they entered into a strategic agreement to jointly establish the Renewable Energy Automotive Institution and the Kandi Renewable Energy Vehicle Collaborative Innovation Center. The goal of the agreement is to institutionalize renewable energy research and to develop an outreach strategy to promote the renewable energy vehicle industry.

Kandi and Hangzhou Vocational & Technical College Signing Ceremony I Cannot view this image? Please visit: https://orders.newsfilecorp.com/files/2079/29345_kndih2.jpg

Mr. Hu Xiaoming, Chairman of the JV Company, Mr. Zhu Feng, President of the JV Company, Mr. Che Jianhua, President of Kandi Electric Vehicle Research Institute, Mr. Rao Zhenghua, Chairman of Zhejiang ZuoZhongYou Electric Vehicle Service Co., Ltd., Ms. Zheng Xiaoping, General Manager of Zhejiang 24/7 Electric Vehicle Service Co., Ltd., Mr. An Rongquan, Mr. Jia Wensheng, and Mr. Chen Jiaming, the Party Secretary, Principal, and Vice Principal, respectively, of Hangzhou V&T College, along with other executives, attended the signing ceremony.

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The Chinese government, with the current global interest in renewable energy vehicles in mind, has identified the promotion of the Chinese renewable energy automotive industry as a primary national strategic objective. However, until now there has not been a professional institution specifically focused on training personnel for the renewable energy automotive sector, which, unlike the traditional automotive industry, is experiencing rapid growth and a shortage of skilled and specialized technicians. The Kandi Renewable Energy Automotive Institution is the result of a successful combination of Kandi’s extensive experience with the renewable energy automotive industry, electric vehicle sharing, and advanced technology, with Hangzhou V&T College’s targeted educational training programs designed to advance students’ careers. The two parties have also jointly launched the Kandi Renewable Energy Automotive Research Institution to further develop renewable energy vehicle technologies and automotive networking application research, development, and operations, as well as the Car Sharing Innovation Research Center to support research on car-sharing and other new and innovative automotive business models.

Hangzhou V&T College is an accredited career training college in China whose graduates are regularly recruited by the top 50 ranked businesses. The college has 11 main departments including mechatronics, information engineering, automotive, textile and garment, electronic information, culture and art, and business tourism, and offers 34 different majors. With over 10,000 enrolled students and faculty, Hanzhou V&T College is a primary engineering training school focused on the automotive industry. The Hanzhou V&T College Party Secretary, Mr. An Rongquan, believes that the partnership with Kandi JV Company is a win-win collaboration and model for combing industrial and academic sectors to leverage the resources and expertise of both parties, and presents tremendous growth potential and business opportunities in China’s renewable energy vehicle sharing sector.

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Mr. Hu Xiaoming, Chairman of the JV Company commented, “As an industry leader in the niche market of renewable energy vehicles, I believe that China’s auto industry is already one of the most important in the world, but in order to grow to be the largest and to dominate global sales, the path to success lies in the renewable energy vehicle industry. In the future most transportation will be car-sharing, and the future of renewable energy vehicles will be intelligent design that incorporates internet connectivity, the Internet of Things (IoT), and autonomous driving. The goal for designers of innovative renewable energy vehicles should be to create truly convenient and all-around intelligent transportation options.”

Kandi and Hangzhou Vocational & Technical College Signing Ceremony – Mr. Hu Xiaoming Cannot view this image? Please visit: https://orders.newsfilecorp.com/files/2079/29345_kndih8.jpg

“Hangzhou V&T College is a leading provider of technical training in China and Kandi is a pioneer in the pure electric vehicle industry. The collaboration between the two is an innovation in renewable energy automotive research in the academic field. The establishment of the Kandi Renewable Energy Automotive Institution will help many professionals and potential candidates procure successful employment in the renewable energy automotive sector. Our industry has a bright and promising future, and this collaboration will provide substantial resources and opportunities for ramping up renewable energy automotive development,” Mr. Hu concluded.

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. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (“Kandi Vehicles”), and the partially and wholly-owned subsidiaries of Kandi 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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