Kandi America Introduces the K32 Luxury Off-road Electric UTV

Rhea-AI Summary

Kandi America, the U.S. subsidiary of Kandi Technologies Group (NASDAQ: KNDI), has launched its first all-electric off-road UTV, the K32. With two versions priced at $27,699 and $34,499, the K32 offers a range of up to 60 miles for the standard version and 150 miles for the long-range model. Kandi aims to enhance the off-road recreational vehicle market by utilizing its EV technology. Deliveries are expected to start in Q1 2022 through a dealer network with financing options available.

Positive

• Launch of K32, an all-electric UTV, targets a growing off-road EV market.
• Pricing set at competitive levels: $27,699 for standard range, $34,499 for long range.
• Offers significant range: 60 miles (standard) and 150 miles (long range).
• Financing options available through dealer network to enhance consumer access.

Negative

• Heavy reliance on new product acceptance in a competitive market.
• Potential delays in delivery could impact initial sales momentum.

EV Luxury Is Now Available to Off-road Powersports Enthusiasts

DALLAS--(BUSINESS WIRE)-- Kandi America, the U.S. subsidiary of Kandi Technologies Group Inc. (NASDAQ GS: KNDI), an international automotive and powersports manufacturer, today introduced its first off-road all-electric dual motor 4-wheel drive UTV, the K32.

Kandi all-electric off-road utility vehicle K32. (Photo: Business Wire)

“Recognizing the growing enthusiasm for electric off-road recreational vehicles, Kandi is leveraging its automotive experience and EV technology to make a splash in the powersports industry,” said Johnny Tai, CEO of Kandi America. “Kandi has produced off-road recreational vehicles for decades and is now upgrading the rider experience by re-purposing its cutting-edge EV technology.”

Two versions of the Kandi K32 will feature standard range and long range, priced at $27,699 and $34,499 respectively. The standard range can traverse up to 60 miles, while the long range can journey up to 150 miles. Both versions feature a quiet and comfortable climate-controlled driving environment, while still delivering the heavy-duty power expected of a workhorse UTV.

The K32 will be sold through Kandi America’s nationwide existing powersports dealer network. Kandi America has arranged inventory financing partners to provide dealers and consumers with simple and accessible financing options. Deliveries are expected to commence in Q1 2022.

To learn more about Kandi America and Kandi Powersports, visit KandiAmerica.com.

About Kandi America

Kandi America is the U.S. subsidiary of Kandi Technologies Group, Inc. (NASDAQ GS:KNDI). Headquartered in Dallas, Texas, Kandi America is primarily engaged in the wholesale distribution of off-road vehicle products and electric vehicles. Since 2008, Kandi Technologies has been publicly traded on the Nasdaq Stock Exchange under the symbol KNDI. For more information, visit KandiAmerica.com.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211110005007/en/

Marisol Garcia

mgarcia@kandiamerica.com

Source: Kandi America

FAQ

What is the Kandi K32 and when will it be available?

The Kandi K32 is an all-electric off-road UTV priced at $27,699 (standard) and $34,499 (long range), with deliveries expected to start in Q1 2022.

What are the features of the Kandi K32 electric UTV?

The Kandi K32 features a quiet climate-controlled environment, a standard range of up to 60 miles, and a long range of up to 150 miles.

How does Kandi America finance the K32 UTV for consumers?

Kandi America has arranged inventory financing partners to provide dealers and consumers with simple and accessible financing options.

What is the significance of the Kandi K32 launch for investors?

The K32 launch signifies Kandi's entry into the electric powersports market, which could potentially drive growth for KNDI.

What are the risks associated with Kandi Technologies' K32 launch?

The risks include market competition and potential delays in product deliveries that could affect sales.