Kandi 10K All-Electric UTV Model Achieves EU EEC Certification

Rhea-AI Summary

Kandi Technologies has announced that its 10K all-electric UTV model has achieved European Economic Community (EEC) certification.

This certification confirms the vehicle meets the EU's rigorous standards for safety, quality, and performance, allowing entry into the European market.

The 10K UTV underwent extensive testing and evaluations, showcasing Kandi's excellence in product development and manufacturing.

CEO Dr. Xueqin Dong expressed optimism about the model's reception and performance in the EU market, highlighting this milestone as significant for the company's expansion.

Positive

• EEC certification enables entry into the EU market.
• Extensive testing confirms high standards of safety, quality, and performance.
• Strengthens Kandi's global presence and market expansion.
• CEO shows confidence in positive reception and strong performance in the EU.

Negative

• Entry into the EU market requires rigorous compliance, potentially increasing costs.
• Certification only indicates readiness for market entry, actual sales and reception are yet to be determined.

JINHUA, CHINA, May 21, 2024 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (“Kandi” or the “Company”), a leading distributor of all-electric personal transportation and utility vehicles, today announced the certification of its 10K all-electric UTV model by the European Economic Community (EEC). This achievement confirms that the product meets the European Union's high standards for safety, quality, and performance, preparing it for its market debut within the EU.

10K All-Electric UTV

The EEC certification, a mandatory compliance measure based on EU directives, acts as a crucial entry requirement for vehicles and their components within the EU market. Renowned for its rigorous and authoritative standards, this certification underscores the model's advanced design and manufacturing quality. The Kandi 10K all-electric UTV underwent extensive testing and thorough evaluations, affirming the company's excellence in product development and manufacturing.

Dr. Xueqin Dong, CEO of Kandi stated, “We are pleased that the Kandi 10K all-electric UTV model has received the EU EEC certification, a significant milestone that sets the stage for its launch in the EU. We anticipate a positive reception and strong performance across the Union.”

Kandi continues to lead through innovation and maintains the highest standards of quality, further solidifying its global presence.

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua New Energy Vehicle Town，Zhejiang Province, is engaged in the research, development, manufacturing, and sales of various vehicular products. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Technologies Group Co., Ltd. (“Zhejiang Kandi Technologies”), formerly, Zhejiang Kandi Vehicles Co., Ltd. and its subsidiaries including Kandi Electric Vehicles (Hainan) Co., Ltd. and SC Autosports, LLC (d/b/a Kandi America), the wholly-owned subsidiary of Kandi in the United States, and its wholly-owned subsidiary, Kandi America Investment, LLC. Zhejiang Kandi Technologies has established itself as one of China's leading manufacturers of pure electric vehicle parts and off-road vehicles.

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 applicable securities laws, the Company does not assume a duty to update these forward-looking statements.

Follow us on Twitter: @ Kandi_Group

Contacts:

Kandi Technologies Group, Inc.
Ms. Kewa Luo
+1 (212) 551-3610
IR@kandigroup.com 

The Blueshirt Group
Mr. Gary Dvorchak, CFA
gary@blueshirtgroup.co   

FAQ

What is Kandi's 10K all-electric UTV?

Kandi's 10K all-electric UTV is a utility task vehicle that has achieved EEC certification, confirming its compliance with EU standards for safety, quality, and performance.

What does EEC certification mean for Kandi's 10K UTV?

EEC certification means the 10K UTV meets the European Union's standards, allowing it to be marketed and sold within the EU.

When did Kandi announce the EEC certification for its 10K all-electric UTV?

Kandi announced the EEC certification for its 10K all-electric UTV on May 21, 2024.

What impact does the EEC certification have on Kandi's business?

The EEC certification is expected to enhance Kandi's market expansion in the EU, potentially increasing sales and strengthening its global presence.

What is the stock symbol for Kandi Technologies?

The stock symbol for Kandi Technologies is NASDAQ GS: KNDI.