Kandi Pure EV Model EX3, K23 Included In China’s Approved Directory Of Purchase Tax Exemption For New Energy Vehicles
09/21/2018
JINHUA, CHINA--(September 20, 2018) - Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), announced today that according to Public Notice No. 45 issued by China’s Ministry of Industry and Information Technology (“MIIT”) and State Administration of Taxation (“SAT”) promulgated on September 17, 2018, Geely Brand Electric Vehicle (“EV”) SMA7001BEV49 (Model EX3) and SMA7001BEV47 (Model K23), developed by Kandi Electric Vehicles Group Co., Ltd. (the "JV Company" - a 50/50 joint venture between Kandi and Geely Group (Ningbo) Ltd.) was listed in the twentieth approved directory of New Energy Vehicles. As a result, the Model EX3 and K23 are now qualified for purchase tax exemption.
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi commented: “we are very pleased that the Model EX3 and K23 are included in the approved directory of purchase tax exempted new energy vehicles. These two EV models met all the sale requirements after obtaining approvals from MIIT for Directory of New Products, Recommended Models for New Energy Vehicles and the Tax Exemption Directory. We believe the Model EX3 and K23 will be the engine that propels Kandi’s growth going forward.”
