Kandi Technologies Received New Order of 100 pure EVs from Hangzhou New Energy Taxi

JINHUA, China--Nov. 8, 2012: Kandi Technologies, Corp. (the 'Company' or 'Kandi') , a leading Chinese manufacturer and developer of pure electric vehicles (EVs) and all-terrain vehicles (ATVs), today announced that the Company's wholly owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd ('Kandi Vehicles') recently received a new order of 100 pure EVs from Hangzhou New Energy Taxi Co. Ltd. which intends to deploy all 100 EVs for its internal and marketing use.

According to signed sales contract, Kandi shall deliver 100 pure EVs, model JNJ6290EV, to Hangzhou New Energy Taxi by the end of 2012. The selling price of each vehicle, without battery, is RMB 39,800 (approximately USD 6375) and total contract amount for the order is RMB 3.98 million (approximately USD 637524) . Kandi will ensure that the electric vehicles meet the strict quality standards and technical parameters of Chinese national and local Government and provide after sales support to the buyer. 

Mr. Jinfeng Ying, Vice President of Kandi Vehicle commented, "We are excited to sign on Hangzhou New Energy Taxi as another important commercial client. The management and employees of Hangzhou New Energy Taxi will enjoy our innovative pure electric vehicles and, at the same time, showcase our product to their customers.  We hope to gain further consumer awareness of the 'Kandi' brand as well as our contribution to help solving the urban traffic and air pollution problems in China."