Jinhua, China, April 16, 2024 /PRNewswire/ -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (“Kandi” or the “Company”), a leading distributor of all-electric personal transportation and utility vehicles, today announced that the reincorporation merger to redomicile the Company as a British Virgin Islands company (the “Merger”) has been completed on April 16, 2024.

Pursuant to the Merger, each outstanding share of the common stock of the Company is converted into the right to receive one ordinary share of Kandi Technologies Group, Inc., a British Virgin Islands company (“Kandi BVI”). The ordinary shares of Kandi BVI are expected to trade on the NASDAQ Global Select Market under the trading symbol “KNDI”, the same symbol under which the common stock of the Company is listed from 9:30 am E.T., April 17, 2024.