JINHUA, CHINA, Dec. 2, 2024 -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (“Kandi” or the “Company”), a leading producer of all-electric personal transportation and utility vehicles, today announced that, following a thorough review and decision by its management team, Mr. Bin Yu has been appointed Chief Executive Officer (CEO) of SC Autosports (d/b/a Kandi America), the Company’s U.S. subsidiary. This move is part of Kandi’s strategic efforts to advance high-quality development initiatives.

Mr. Yu, a U.S. citizen, brings over 20 years of corporate management experience and has held senior leadership roles at several leading multinational corporations. His expertise spans the entire product lifecycle, from research and development to marketing, and includes managing multinational teams across regions, including the United States.

Before joining Kandi, Mr. Yu held the following key positions:

October 2020 – February 2024: Vice President, BoulderAI Technologies Co., Ltd., Hangzhou, China.

LTDOctober 2014 – July 2019: CTO and Vice President of Product Management, Huawei Enterprise Network (Silicon Valley).

October 2011 – October 2014: Senior Director and Chief Cloud Transformation and Network Architect, Global Marketing Solution Center for Operators, Huawei U.S. Research Institute (Silicon Valley).

June 2002 – October 2011: Chief Market Technology and Management Specialist, Edge Routing and Security Product Line, Hong Kong office of Cisco Systems Asia Pacific Headquarters.

April 1995 – May 2001: Senior Engineer, Edge Router R&D, Cisco Systems (Silicon Valley).

Mr. Yu holds a Master’s degree in Computer Engineering from the University of California, Los Angeles, earned in June 1992, and an MBA from the University of Hong Kong, obtained in January 2011.

Concurrently, Johnny Tai will transition from his role as CEO of SC Autosports to Vice President, where he will focus on expanding the Company’s dealer network.

Mr. Feng Chen, CEO of Kandi, commented, "We are delighted to welcome Mr. Bin Yu to the leadership team at SC Autosports. With his extensive experience and proven track record, I am confident he will drive our business to new heights by strengthening channel development and expanding our customer base, in line with Kandi’s new growth strategy. We also express our gratitude to Johnny for his significant contributions as CEO and look forward to his continued efforts in building a more comprehensive and robust dealer network."