KANDI

Kandi Electric Vehicles Group Co., Ltd. (referred to as Kandi Electric Vehicle Group) has a registered capital of RMB 1 billion. It is jointly invested by Shanghai Hua Pu Guo Run Automobile Co., Ltd., a subsidiary of Geely Automobile Holdings Limited (Stock Code: 00175 on the Hong Kong Stock Exchange), and Zhejiang Kandi Vehicle Industry Co., Ltd., a subsidiary of Kandi Technologies Group (NASDAQ: KNDI), each holding 50% of the shares. The company is mainly engaged in investment, research and development, production, and marketing of pure electric vehicles.

Kandi Electric Vehicle Group's current business is mainly carried out through its wholly-owned subsidiaries, including Kandi Electric Vehicles (Shanghai) Co., Ltd., Kandi Electric Vehicles (Changxing) Co., Ltd., Kandi Electric Vehicles Jiangsu Co., Ltd., Kandi Electric Vehicles (Jinhua) Co., Ltd., and Zhejiang Jihe Kandi Electric Vehicle Sales Co., Ltd., as well as associated companies such as Zhejiang Zuoyouyou Electric Vehicle Service Co., Ltd.

In order to alleviate traffic congestion and the shortage of parking resources, actively promote the development of pure electric vehicles in China, and effectively solve the difficulties in the industrialization of pure electric vehicles, Kandi Electric Vehicle Group has proposed a new business model of "using pure electric vehicles to increase urban micro-public transportation and promote an urban transportation revolution." This model exclusively uses zero-emission pure electric vehicles, combining the advantages of urban taxis, private cars, intercity self-drive rentals, and traditional public transportation, integrating three-dimensional parking garages with automatic charging and battery swapping. It perfectly achieves the coordination of dynamic and static traffic and is a brand-new urban public transportation operation model.

With the increasing environmental awareness of consumers and the urgent need for green urban public transportation systems, electric vehicles are bound to become an important driving force for China's future green economy. Kandi Electric Vehicle Group will fully integrate the electric vehicle research and development, production, market promotion, and sales resources of Geely and Kandi, develop affordable and cost-effective pure electric vehicles that the public can afford, promote the application of electric vehicles, and strive to build a reliable and convenient urban green micro-public transportation system, becoming a leader in the electric vehicle market segment.