Kandi Pure EV Model K27 is Included on China’s Approved Directory of Purchase Tax Exemption for New Energy Vehicles
Jinhua, China--(November 1, 2017) - Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the "Company" or "Kandi") today announced that according to public Notice No. 46 issued by China’s Ministry of Industry and Information Technology (“MIIT”) and State Administration of Taxation (“SAT”) promulgated on October 30, 2017, Geely Brand Electric Vehicle (“EV”) SMA7001BEV40 (Model K27), developed by Kandi Electric Vehicles Group Co., Ltd. (the "JV Company", a 50/50 joint venture between Kandi and Zhejiang Geely Holding Group),”was listed on the thirteenth approved directory of New Energy Vehicles. As a result, the Model K27 is now qualified for a purchase tax exemption.

Mr. Hu Xiaoming, Chairman and CEO of Kandi, commented, “Kandi’s Model K27 is an upgraded model based on the model K17. Equipped with an advanced drive motor, its motor power has increased by 6kW compared to the model K17 and its energy consumption reduced by 5-10%, resulting in improved speed acceleration and stabilization for the vehicle’s performance. A number of innovative features are added to the Model K27, such as engine start/stop button, user remote control over vehicle software, remote monitoring, in-vehicle 4G Internet access, Controller Area Network (CAN) and event data recorder. Equipped with the most advanced technologies available today, the Model K27 has fascinated customers even before its official launch. We are very pleased that the Model K27 is in the tax exemption approved directory of New Energy Vehicles because it will benefit from the extra incentive for potential customers. We look forward to seeing the positive impact this will have on K27 sales.”