Kandi Technologies Produces 10,000th Crossover Electric Golf Cart

JINHUA, CHINA-- (November 28, 2022) - Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), today announced that it has produced and shipped its 10,000th “crossover” electric golf cart at its production facility in Hainan, China.

Kandi’s electric “crossover” golf carts feature a new aesthetic styling and optimized control systems based on an automotive-grade chassis.  Demand has been strong since the U.S. launch this April. In particular, the M1204 series is a best seller in the United States, ranking at the top of this category in market share.

Mr. Hu Xiaoming, Chairman and CEO of Kandi commented, “In February 2022, we sized up our situation and cooperated with Jiangsu Xingchi Electric Technology Co., Ltd. to establish Hainan Kandi Holding New Energy Technology Co., Ltd. as our production facility in Hainan province to produce electric crossover golf carts. As of November 20, the facility has produced more than 10,000 units. We are excited to surpass this milestone, which establishes our leadership in this growing vehicle category.  Notably, this milestone demonstrates our nimble operations and ability to adapt to challenges.  Earlier this year, the resurgence of Covid and economic uncertainty disrupted production. However, supported by the local government and our dedicated employees and suppliers, we were able to achieve an excellent result.  We will continue to innovate in technology and design, to ensure that our vehicles meet users’ needs.  Also, we will launch more exciting new products of various electric vehicles tailored to the market!”