Kandi’s Hainan Facility Certified as a National Green Factory, Driving Green Manufacturing and Sustainability

Rhea-AI Summary

Kandi Technologies Group (NASDAQ: KNDI) has announced that its Hainan facility has received certification as a National Green Factory from China's Ministry of Industry and Information Technology for 2024, accompanied by a RMB 2 million (US$ 0.27 million) government award.

The facility operates under multiple international certifications, including ISO-9001, ISO-50001, ISO-14001, and ISO-45001, demonstrating excellence in quality, energy, environmental, and safety management. The certification aligns with China's 14th Five-Year Plan and carbon neutrality goals.

Additionally, the Hainan facility was recognized as a 'Jing Ying Xing Dong' seed enterprise by the Hainan Provincial Department of Science and Technology, receiving a RMB 3 million (US$ 0.41 million) grant. The facility was also designated as a Specialized and Sophisticated SME by the Hainan Provincial Department of Industry and Information Technology.

JINHUA, CHINA, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (“Kandi” or the “Company”), a leader in all-electric personal transportation and utility vehicles, today announced that its Hainan facility has been certified as a National Green Factory by China’s Ministry of Industry and Information Technology for 2024. This prestigious recognition comes with a government award of RMB 2 million (approximately US$ 0.27 million), highlighting Kandi’s significant contributions to sustainable manufacturing and progress toward carbon neutrality.

The National Green Factory certification is part of China’s broader commitment to achieving its environmental goals outlined in the 14th Five-Year Plan for National Economic and Social Development and Long-Range Objectives for 2035 and the Implementation Plan for Carbon Peaking in the Industrial Sector. These initiatives aim to build a robust green manufacturing system and support efforts to reduce emissions and achieve carbon neutrality. Kandi’s Hainan facility adheres to these principles by operating under stringent manufacturing standards and earning international certifications, including ISO-9001 Quality Management, ISO-50001 Energy Management, ISO-14001 Environmental Management, and ISO-45001 Occupational Health and Safety Management. The facility also serves as an industry leader in clean production, low-carbon energy use, and resource efficiency.

Beyond its green manufacturing achievements, the Hainan facility has been recognized for its innovation and technological advancements. Earlier this year, the Hainan facility was recognized by the Hainan Provincial Department of Science and Technology as a “Jing Ying Xing Dong (Elite Action)” seed enterprise, earning a government grant of RMB 3 million (approximately US$ 0.41 million). This designation refers to high-tech enterprises with proprietary technologies and strong growth potential. It was also designated as a Specialized and Sophisticated SME by the Hainan Provincial Department of Industry and Information Technology. These honors underscore Kandi’s leadership in both technological development and sustainable practices, further strengthening its position in the new energy and green manufacturing sectors.

Feng Chen, CEO of Kandi, stated: “Achieving the National Green Factory certification， along with other recent honors, is a testament to our long-standing commitment to green development strategies and technological innovation. We will continue to uphold our corporate mission of ‘Making the Earth Last Longer,’ advancing sustainable development, and contributing to a greener future for the world.”

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.

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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 certifications did Kandi's Hainan facility receive in 2024?

In 2024, Kandi's Hainan facility received the National Green Factory certification from China's Ministry of Industry and Information Technology, along with recognition as a 'Jing Ying Xing Dong' seed enterprise.

How much government funding did KNDI receive for its green initiatives in 2024?

KNDI received a total of RMB 5 million (approximately US$ 0.68 million) in government funding, comprising RMB 2 million for the National Green Factory certification and RMB 3 million for the 'Jing Ying Xing Dong' designation.

What international management certifications does Kandi's Hainan facility hold?

The facility holds ISO-9001 Quality Management, ISO-50001 Energy Management, ISO-14001 Environmental Management, and ISO-45001 Occupational Health and Safety Management certifications.

How does KNDI's Green Factory certification align with China's environmental goals?

The certification aligns with China's 14th Five-Year Plan for National Economic and Social Development and the Implementation Plan for Carbon Peaking in the Industrial Sector, supporting emissions reduction and carbon neutrality goals.

What recent designations has KNDI's Hainan facility received from provincial authorities?

The facility was recognized as a 'Jing Ying Xing Dong' seed enterprise by the Hainan Provincial Department of Science and Technology and designated as a Specialized and Sophisticated SME by the Hainan Provincial Department of Industry and Information Technology.