Kandi Pure EV model K23 Receives MIIT Approvals
04/10/2019
JINHUA, CHINA-- (April 9, 2019) - Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), announced today that its pure electric vehicle (“EV”) SMA7001BEV77 (“Model K23”) has been included in the Ministry of Industry and Information Technology’s (the “MIIT”) Directory of New Products (the “318th Directory”) and Recommended Models for Energy Saving and New Energy Vehicle Demonstration and Promotion (“2019’s 3rd Annual Directory of New Energy Vehicles”) in the People’s Republic of China. The new model meets the new energy vehicle promotion subsidy program and product technical requirements in the “Notice on Further Improving the Financial Subsidy Policy for the Promotion and Application of New Energy Vehicles” issued by the Four Ministries on March 26, 2019. As a result, purchasers of the model K23 will be qualified to receive government subsidies in 2019.
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi commented, "We are very pleased that the Model K23, whose EV set is manufactured in Hainan, is included in both the 318th Directory and 2019’s 3rd Annual Directory of New Energy Vehicles. Kandi Model K23 launches in 2019 as the key model launched for the ride-hailing market. We are confident that the approval of the Model K23 will drive the implementation of 300,000 government accredited EVs within 5 years for the Online Ride-Sharing Service Alliance.”
