Kandi Technologies
 | |
| Type | Public |
|---|---|
| Traded as | NASDAQ: KNDI |
| Industry | Automotive |
| Founder(s) | Hu Xiaoming |
| Headquarters | Jinhua, Zhejiang, China |
| Area served | Hangzhou |
| Products | Automobiles, electric vehicles |
| Subsidiaries | Zhejiang Kandi Electric Vehicles (50%) |
| Website | http://en.kandivehicle.com |
Kandi Technologies Group, Inc., trading as Kandi, is an automotive manufacturing company based in Jinhua, China. Its principal activity is the design, development, production and sale of electric vehicles, all-terrain vehicles and go-karts.
Kandi is listed on the NASDAQ stock exchange with ticker KNDI.[1]
History
In July 2012 Kandi Technologies signed a strategic cooperation agreement with the city of Hangzhou to supply 20,000 electric vehicles for the city's pilot electric vehicle leasing program.[2]
In February 2013, Kandi and Shanghai Maple announced the establishment of a 50:50 electric vehicle joint venture, Zhejiang Kandi Electric Vehicles Investment, with an initial registered capital of 1 billion yuan (US$160 million).[3] The joint venture is planned to focus on the research and development, production, marketing and sale of electric vehicles in the Chinese mainland.[3] The joint venture agreement was signed on 22 March 2013.[4] Mr. Shufu Li, Chairman of Geely Auto will be appointed to be the first Chairman of the JV Company and Mr. Xiaoming Hu, Chairman & CEO of Kandi will be appointed to be first General Manager. [5]
The Kandi public EV CarShare concept is based on Hangzhou’s bikeshare, the largest bikeshare in the world and the first of its kind in China. The bikeshare has since spread from Hangzhou to 19 Chinese cities including Shanghai and Beijing.
Kandi’s plan is to build with both Government and “outside” support, 750 of these garages in just the City of Hangzhou over the next four years through a 50-50 joint venture with Geely Automotive, China’s largest passenger automaker, which would require some 100,000 Kandi electric vehicles to stock them. This model is slated to spread to other cities and regions like Shanghai, Shandong, and Hainan. Two garages were just completed in Hangzhou over the past two months and another 18 are currently under construction as of two weeks ago.
References
- ↑ "Kandi Technologies Group Inc". Bloomberg Businessweek. Retrieved 1 April 2013.
- ↑ "Kandi Technologies Bags Largest Single Electric Vehicle Order Ever". Forbes. 11 July 2012. Retrieved 30 March 2013.
- ↑ 3.0 3.1 "Geely subsidiary signs joint EV venture deal". The China Post. 6 February 2013. Retrieved 17 February 2013.
- ↑ "Kandi Technologies Corp's Zhejiang Kandi Vehicles Co Ltd Enters Into Joint Venture Agreement With Geely Automobile Holdings Ltd's Guorun Automobile Co Ltd". Reuters. 25 March 2013. Retrieved 1 April 2013.
- ↑ http://en.kandivehicle.com/NewsDetail.aspx?newsid=95. Missing or empty
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