Kandi Pure EV Model K22 Receives Two approvals from Chinese Government Agencies
12/07/2017
-Included in Directory of Recommended Models for Energy Saving and New Energy Vehicle Demonstration
-Included in Directory of Purchase Tax Exemption for New Energy Vehicles
Jinhua, China -- (December 6, 2017) - Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the "Company" or "Kandi") today announced that Geely Brand Electric Vehicle (“EV”) SMA7000BEV20 (Model K22), developed by Kandi Electric Vehicles Group Co., Ltd. (the “JV Company”, a 50/50 joint venture between Kandi and Geely Group (Ningbo) Ltd.), is listed on two approved directories. They are the 11th approved Directory of Recommended Models for Energy Saving and New Energy Vehicle Demonstration and Promotion, known as Public Notice No. 55, published by China’s Ministry of Industry and Information Technology (“MIIT”) on December 4, 2017 and the 14th approved Directory of Vehicle Purchase Tax Exemption for New Energy Vehicles, known as Public Notice No. 56 published by MIIT and State Administration of Taxation (“SAT”) on December 5, 2017. As a result, the purchasers of Model K22 are now qualified to receive all levels of national and local subsidies and a purchase tax exemption.
Mr. Hu Xiaoming, Chairman and CEO of Kandi, commented, “we are very pleased about another Kandi vehicle Model K22 is included in the directories of recommended new energy vehicle and purchase tax exemption. The Model K22 is an upgraded model based on the Model K12. The inclusion in the two directories is an important step forward and will bring the positive impact on K22 sales.”
