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Kandi EVs to Be Placed on the Italian Market

^{Published on 2011-01-27 05:36:07 - Market Wire}
 

JINHUA, CHINA--(Marketwire - January 27, 2011) - Kandi Technologies, Corp. (NASDAQ: [ KNDI ]) ("Kandi" or the "Company"), announced today that, based on the quality assurance certifications its Electric Vehicles (EVs) have received in Italy, the Company has signed a letter of intent with SHARE s.r.l. ("SHARE"), a Rome, Italy based EV distributor, for the initial purchase by SHARE of 1000 Kandi EVs. In order to promote the use of electric cars, the city government of Rome has authorized SHARE to engage in the "new energy" automotive importation business. SHARE anticipates a "warm welcome" for Kandi EVs in Europe and expects to sell the 1000 EVs in Italy in 2011.

Kandi noted it believes the fact that its pure EVs have received the quality certifications required to enter the European market -- where there are very strict technical and quality requirements for imported vehicles -- reflects well on the performance and quality of the Company's EVs. Also being recognized, in the Company's view, are the energy savings, environmental friendliness, convenience and practicality of its EVs, which the Company believes are bringing it closer to realizing its global ambitions in the not too distant future.

Additional information on SHARE is available on [ www.sharegroup.it ].

About Kandi Technologies, Corp.

Kandi Technologies, Corp., based in Jinhua, China, develops, manufactures and exports power sports vehicles including go-karts, all-terrain vehicles (ATVs), and three-wheeled motorcycles, as well as mini cars and specialized utility vehicles (UTVs). Recently, the Company began manufacturing Pure Electric Vehicles (EVs) for sale in China. The Company's products can be viewed at [ http://www.kandivehicle.com ]. Its corporate website is [ http://www.chinakandi.com ].

Information Regarding Forward-Looking Statements

Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the Securities and Exchange Commission.