Jinhua, China, December 1, 2020 -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the “Company” or “Kandi”) responded today to a report issued by Hindenburg Research with respect to Kandi and its operations.  Hindenburg Research, as it disclosed, has taken a short position in shares of Kandi. Kandi believes that the report contains numerous errors, misstatements of historical facts, inaccurate conclusions, and superfluous opinions.

Kandi takes seriously any accusations of impropriety and intends to address the key issues raised by the report.  The Company plans to study the report in depth, isolate the key inaccuracies, and prepare detailed explanations that will be presented in the near future.