Kandi Technologies Actively Explores Possibility of Establishing Electric Vehicle Manufacturing Facility in North America
08/20/2020
JINHUA, CHINA (August 20, 2020) Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), today announced it is actively exploring the possibility of opening a manufacturing base in North America for its popular electric vehicles (“EV”) and offroad vehicles. Kandi plans to more aggressively target the fastgrowing North America market and ensure affordability by eliminating shipping costs and tariffs. The Company is in preliminary discussion with various potential partners, including local government agencies from the USMexico border, and has received positive feedback. The Company cautioned that the exploration process is in its early stage and any negotiations would not guarantee a North American plant will be built.
Kandi Chairman and Chief Executive Officer Hu Xiaoming elaborated: “We have achieved initial success with our strategic decision to expand to the U.S. electric vehicle market. Over the near term, we are confident we can meet the growing North American demand with our existing manufacturing facilities in China. Longer term, however, we are actively exploring the possibility of manufacturing EVs and off the road vehicles locally, as we plan to more aggressively target the fast growing North American market.”JINHUA, CHINA (August 20, 2020) Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), today announced it is actively exploring the possibility of opening a manufacturing base in North America for its popular electric vehicles (“EV”) and offroad vehicles. Kandi plans to more aggressively target the fastgrowing North America market and ensure affordability by eliminating shipping costs and tariffs. The Company is in preliminary discussion with various potential partners, including local government agencies from the USMexico border, and has received positive feedback. The Company cautioned that the exploration process is in its early stage and any negotiations would not guarantee a North American plant will be built. Kandi Chairman and Chief Executive Officer Hu Xiaoming elaborated: “We have achieved initial success with our strategic decision to expand to the U.S. electric vehicle market. Over the near term, we are confident we can meet the growing North American demand with our existing manufacturing facilities in China. Longer term, however, we are actively exploring the possibility of manufacturing EVs and off the road vehicles locally, as we plan to more aggressively target the fast growing North American market.”
Kandi Chairman and Chief Executive Officer Hu Xiaoming elaborated: “We have achieved initial success with our strategic decision to expand to the U.S. electric vehicle market. Over the near term, we are confident we can meet the growing North American demand with our existing manufacturing facilities in China. Longer term, however, we are actively exploring the possibility of manufacturing EVs and off the road vehicles locally, as we plan to more aggressively target the fast growing North American market.”JINHUA, CHINA (August 20, 2020) Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), today announced it is actively exploring the possibility of opening a manufacturing base in North America for its popular electric vehicles (“EV”) and offroad vehicles. Kandi plans to more aggressively target the fastgrowing North America market and ensure affordability by eliminating shipping costs and tariffs. The Company is in preliminary discussion with various potential partners, including local government agencies from the USMexico border, and has received positive feedback. The Company cautioned that the exploration process is in its early stage and any negotiations would not guarantee a North American plant will be built. Kandi Chairman and Chief Executive Officer Hu Xiaoming elaborated: “We have achieved initial success with our strategic decision to expand to the U.S. electric vehicle market. Over the near term, we are confident we can meet the growing North American demand with our existing manufacturing facilities in China. Longer term, however, we are actively exploring the possibility of manufacturing EVs and off the road vehicles locally, as we plan to more aggressively target the fast growing North American market.”
