Kandi Technologies ReceivesLetter of Intent from Coleman Powersports to Purchase 4,800 Crossover Golf Cartsinthe First Quarter 2023

JINHUA, CHINA-- (December 19, 2022) - Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), today announced that its wholly owned subsidiary SC Autosportshasreceived a letter of intent from Coleman Powersportsto purchase 4,800 crossover golf carts in the first quarter of 2023, with a total value of approximately $27.6 million.

In April 2022, Coleman Powersportsplacedits first purchase order of crossover golf carts.Since then, the monthly order volumeincreased steadily, such as from 100 in June to surpass 1,000 in September. Based on its wide range of similar customer relationships, SC Autosportsanticipates growing purchase orders from multiple customers in the near future.

Mr. Hu Xiaoming, Chairman and CEO of Kandi commented, “We are pleased to shareColeman Powersports’ intent to purchase a large volume of golf carts from SC Autosportsin January 2023, andexpect their procurement volume to rise significantly in 2023.  Coleman Powersports is but one of many customers who are interested in our industry-leading golf carts and realize how they can be an attractive addition to their product line-up.  We believe that SC Autosportswill receive more orders from manypartners as the year goes on.”