Kandi Technologies Announces First Taiwan-Made UTV Shipment to the U.S.
Kandi Technologies Group (NASDAQ GS: KNDI) has announced the successful completion of trial production for its first batch of 10K fully electric UTVs manufactured by its Taiwanese partner, Hartford Industrial. These vehicles are now ready for shipment to the United States, marking a significant milestone in Kandi's expansion of manufacturing operations to Taiwan.
Dr. Xueqin Dong, CEO of Kandi Technologies Group, expressed satisfaction with the swift completion of the trial production, highlighting the company's readiness for mass production. This achievement underscores Hartford Industrial's robust manufacturing capabilities and is expected to enhance product quality and market competitiveness for Kandi's electric off-road vehicles.
Kandi Technologies Group (NASDAQ GS: KNDI) ha annunciato il completamento con successo della produzione di prova per il suo primo lotto di 10.000 UTV completamente elettrici, prodotti dal suo partner taiwanese, Hartford Industrial. Questi veicoli sono ora pronti per la spedizione negli Stati Uniti, segnando un traguardo significativo nell'espansione delle operazioni di produzione di Kandi in Taiwan.
Il Dr. Xueqin Dong, CEO di Kandi Technologies Group, ha espresso soddisfazione per il rapido completamento della produzione di prova, evidenziando la prontezza dell'azienda per la produzione di massa. Questo traguardo sottolinea le robuste capacità di produzione di Hartford Industrial ed è previsto che migliori la qualità del prodotto e la competitività sul mercato per i veicoli fuoristrada elettrici di Kandi.
Kandi Technologies Group (NASDAQ GS: KNDI) ha anunciado la finalización con éxito de la producción de prueba de su primer lote de 10,000 UTV completamente eléctricos fabricados por su socio taiwanés, Hartford Industrial. Estos vehículos están ahora listos para ser enviados a Estados Unidos, lo que marca un hito significativo en la expansión de las operaciones de fabricación de Kandi en Taiwán.
El Dr. Xueqin Dong, CEO de Kandi Technologies Group, expresó su satisfacción con la rápida finalización de la producción de prueba, destacando que la empresa está lista para la producción en masa. Este logro subraya las sólidas capacidades de fabricación de Hartford Industrial y se espera que mejore la calidad del producto y la competitividad en el mercado para los vehículos eléctricos todoterreno de Kandi.
Kandi Technologies Group (NASDAQ GS: KNDI)는 대만 파트너인 Hartford Industrial이 제조한 10,000대의 완전 전기 UTV의 첫 번째 배치의 시험 생산이 성공적으로 완료되었음을 발표했습니다. 이 차량들은 이제 미국으로 배송될 준비가 되어 있으며, 이는 Kandi의 대만 제조 운영 확장에 있어 중요한 이정표를 의미합니다.
Kandi Technologies Group의 CEO인 Xueqin Dong 박사는 시험 생산의 신속한 완료에 대한 만족감을 표명하며, 대량 생산을 위한 회사의 준비 상태를 강조했습니다. 이 성과는 Hartford Industrial의 강력한 제조 능력을 강조하며 Kandi의 전기 오프로드 차량의 제품 품질과 시장 경쟁력을 향상시킬 것으로 기대됩니다.
Kandi Technologies Group (NASDAQ GS: KNDI) a annoncé l'achèvement réussi de la production d'essai de son premier lot de 10 000 UTV entièrement électriques fabriqués par son partenaire taïwanais, Hartford Industrial. Ces véhicules sont désormais prêts à être expédiés aux États-Unis, marquant une étape significative dans l'expansion des opérations de fabrication de Kandi à Taïwan.
Dr. Xueqin Dong, PDG de Kandi Technologies Group, a exprimé sa satisfaction quant à la rapidité d'achèvement de la production d'essai, soulignant la préparation de l'entreprise pour la production de masse. Cette réussite met en évidence les solides capacités de fabrication de Hartford Industrial et devrait améliorer la qualité des produits ainsi que la compétitivité sur le marché des véhicules tout-terrain électriques de Kandi.
Kandi Technologies Group (NASDAQ GS: KNDI) hat den erfolgreichen Abschluss der Testproduktion für seine erste Charge von 10.000 voll elektrischen UTVs bekannt gegeben, die von seinem taiwanesischen Partner Hartford Industrial hergestellt wurden. Diese Fahrzeuge sind nun versandbereit in die Vereinigten Staaten, was einen wichtigen Meilenstein in Kandi's Erweiterung der Fertigungsoperationen nach Taiwan darstellt.
Dr. Xueqin Dong, CEO der Kandi Technologies Group, äußerte Zufriedenheit über den schnellen Abschluss der Testproduktion und hob die Bereitschaft des Unternehmens zur Massenproduktion hervor. Diese Leistung unterstreicht die robusten Fertigungskapazitäten von Hartford Industrial und wird voraussichtlich die Produktqualität sowie die Wettbewerbsfähigkeit von Kandi's elektrischen Geländewagen verbessern.
- Successful completion of trial production for 10K fully electric UTVs in Taiwan
- Readiness to commence mass production of the new UTV model
- Expansion of manufacturing operations to Taiwan, potentially improving product quality and competitiveness
- Partnership with Hartford Industrial expected to increase production capacity for electric off-road vehicles
- None.
Insights
The announcement that Kandi Technologies is shipping its first batch of fully electric UTVs from Taiwan to the United States is significant. This move reflects an expansion of its manufacturing capabilities, leveraging a new partnership with Hartford Industrial to potentially reduce production costs and improve product quality. For investors, this could signify an increase in profitability and market share in the UTV segment, which is currently growing due to increased demand for electric off-road vehicles. The successful trial production and upcoming mass production highlight operational efficiency and a quicker time-to-market strategy, which are positive indicators for the company's financial health.
Kandi's collaboration with Hartford Industrial for producing electric UTVs in Taiwan is a strategic move to bolster its technological capabilities. Taiwan is known for its advanced manufacturing infrastructure and expertise in electronics, which can enhance Kandi's product quality. This partnership likely brings in advanced manufacturing techniques and possibly better components, leading to more reliable and efficient vehicles. For retail investors, this could translate into a competitive edge in the electric vehicle market, particularly in the niche of off-road utility vehicles where durability and performance are critical.
The entry of Kandi Technologies' fully electric UTVs into the U.S. market is a timely move, considering the growing consumer and regulatory push towards electric vehicles. The U.S. market for electric UTVs is relatively untapped and growing, offering substantial opportunities for Kandi. This development could lead to increased brand recognition and a stronger foothold in the North American market. Investors should note that early market entry can provide a significant advantage, especially when backed by a solid manufacturing partnership that ensures quality and competitive pricing. However, it's essential to monitor how Kandi handles potential logistical challenges and market competition from established UTV brands.
JINHUA, CHINA, July 22, 2024 (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 the first batch of its 10K fully electric UTVs, manufactured by its Taiwanese partner Hartford Industrial Co., Ltd. (“Hartford Industrial”), has successfully completed trial production. These vehicles are now packed and ready for delivery to the United States. This marks a significant milestone as Kandi extends its manufacturing operations to Taiwan, aiming to enhance product quality and increase market competitiveness.
Dr. Xueqin Dong, CEO of Kandi Technologies Group, commented, “We are pleased to announce the swift completion of trial production for the first batch of Kandi 10K fully electric UTVs in Taiwan. This achievement signifies our readiness to commence mass production of this vehicle model, underscoring the robust manufacturing capabilities of our partner, Hartford Industrial. As our collaboration deepens, we anticipate a substantial increase in the production of Kandi electric off-road vehicles in Taiwan. We are confident that this partnership will significantly enhance product quality and market competitiveness, thereby bolstering our product lineup and expanding our market 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.
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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
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FAQ
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