Kandi Rolls Out First U.S.-Made Vehicle, Kicking Off Local Production

Rhea-AI Summary

Kandi Technologies Group (NASDAQ: KNDI) has achieved a significant milestone with the commencement of operations at its new 74,758-square-foot manufacturing facility in Garland, Texas. The company has successfully produced its first U.S.-assembled electric golf cart, marking the beginning of local production. The facility, situated on a 4.56-acre site in the Dallas metropolitan area, is equipped to manufacture Kandi's complete lineup of electric off-road vehicles, including UTVs and recreational models. This strategic move positions Kandi among select manufacturers with localized electric off-road vehicle production in North America. The initiative aims to enhance operational efficiency, reduce delivery times, and improve customer service. Additionally, Kandi has partnered with CBAK Energy Technology to develop two lithium battery production facilities in the U.S., further strengthening its domestic manufacturing presence.

Positive

• Establishment of a 74,758-square-foot U.S. manufacturing facility enhances operational presence
• Local production capability reduces delivery times and improves customer service
• Strategic location in Dallas area strengthens distribution capabilities
• Partnership with CBAK Energy Technology for domestic battery production facilities
• Positions company among select few with localized electric off-road vehicle production in North America

Negative

• Initial production limited to golf carts, suggesting gradual scaling of operations
• Significant investment in facility and equipment may impact short-term financials

JINHUA, CHINA, May 01, 2025 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (“Kandi” or the “Company”), a leader in all-electric personal transportation and utility vehicles, today announced that its manufacturing facility in Garland, Texas has officially commenced operations. The first electric golf cart assembled in the U.S. has come off the production line, representing a major milestone in Kandi’s “Made in North America” initiative and a key advancement in the Company’s U.S. expansion strategy.

“The launch of our Texas facility positions Kandi among the few manufacturers of all-electric off-road vehicles to achieve localized production in North America,” said Feng Chen, CEO of Kandi Technologies. “The establishment of U.S.-based production significantly enhances our operational agility, shortens delivery times, and enables us to better serve customers with high-quality electric off-road vehicles. This milestone lays a solid foundation for our continued growth and innovation in the U.S. market.”

The Garland facility spans approximately 74,758 square feet on a 4.56-acre site. It is equipped to produce Kandi’s complete lineup of electric off-road vehicles, including UTVs and other recreational models.

Strategically located in the Dallas metropolitan area, the facility strengthens Kandi’s distribution capabilities by improving delivery speed and customer responsiveness. As the Company further builds out its U.S. production capacity, it expects to enhance its competitiveness and overall operational efficiency in the North American market.

As part of the Company’s broader localization strategy, Kandi previously announced a partnership with CBAK Energy Technology to develop two lithium battery production facilities in the United States, further expanding its domestic manufacturing footprint.

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua New Energy Vehicle Town，Zhejiang Province, is engaged in the research, development, manufacturing, and sales of various vehicular products. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Technologies Group Co., Ltd. (“Zhejiang Kandi Technologies”), formerly, Zhejiang Kandi Vehicles Co., Ltd. and its subsidiaries including Kandi Electric Vehicles (Hainan) Co., Ltd. and SC Autosports, LLC (d/b/a Kandi America), the wholly-owned subsidiary of Kandi in the United States, and its wholly-owned subsidiary, Kandi America Investment, LLC. Zhejiang Kandi Technologies has established itself as one of China’s leading manufacturers of pure electric vehicle parts and off-road vehicles.

Safe Harbor Statement

This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes", "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements.

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Contacts:

Kandi Technologies Group, Inc.
Ms. Kewa Luo
+1 (212) 551-3610
IR@kandigroup.com

The Blueshirt Group
Mr. Gary Dvorchak, CFA
gary@blueshirtgroup.co

FAQ

What is the size of Kandi's new manufacturing facility in Texas?

Kandi's new manufacturing facility in Garland, Texas spans 74,758 square feet on a 4.56-acre site.

What types of vehicles will KNDI produce at its Garland, Texas facility?

The facility is equipped to produce Kandi's complete lineup of electric off-road vehicles, including UTVs and other recreational models, with the first product being an electric golf cart.

Where is Kandi's new U.S. manufacturing facility located?

Kandi's new U.S. manufacturing facility is located in Garland, Texas, within the Dallas metropolitan area.

What is Kandi's partnership with CBAK Energy Technology?

Kandi has partnered with CBAK Energy Technology to develop two lithium battery production facilities in the United States.

What is the significance of KNDI's new Texas facility for the company?

The facility makes Kandi one of few manufacturers of all-electric off-road vehicles with localized production in North America, improving delivery times and customer service capabilities.