Kandi Technologies’ China Battery Exchange Secures Follow-On Order for CATL Heavy-Truck Battery Swap Stations
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Kandi Technologies (KNDI) subsidiary China Battery Exchange secured a second batch order for heavy-truck battery swap station equipment from CATL subsidiary QIJI Energy.
The order follows QIJI Energy’s first batch order in July 2026 under a three-year supplier agreement signed in January 2026. China Battery Exchange began production at its Lin’an facility in July 2026. The facility has an expected annual production capacity of up to 200 battery swap stations and is intended to support existing and potential future CATL orders, as well as other customers.
Positive
- Second batch order secured from QIJI Energy for heavy-truck battery swap station equipment.
- Three-year agreement designates China Battery Exchange as an equipment supplier for QIJI Energy’s program.
- Lin’an facility began production in July 2026.
- Annual production capacity at Lin’an is expected to reach up to 200 battery swap stations.
- Kandi plans to expand production capacity and improve delivery efficiency.
Negative
- None.
Details
Market move: KNDI +39.46% in the Sep 28 session. CATL follow-on order
On Sep 28, the day this news came out, KNDI closed 39.46% above the previous close. Argus tracked a peak move of +65.1% during that session. Argus tracked a trough of -22.9% from its starting point during tracking. Our momentum scanner recorded 139 alerts for this stock that day. That session’s volume was 1012.1x the stock’s average daily volume.
Data tracked by StockTitan Argus for the Sep 28 session.
Key Figures
- Follow-on order interval
- 2 months
- After the initial batch order in July 2026
- Strategic cooperation agreement term
- 3 years
- QIJI Energy heavy-truck battery-swapping program
- Annual production capacity
- Up to 200 battery swap stations
- Lin’an intelligent manufacturing facility
Historical Context
-
First batch under the three-year QIJI agreement covered 18 heavy-truck swap stations.
-
Lin’an facility began production, with expected annual capacity of up to 200 battery swap stations.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Second Batch Order in Two Months Underscores Growing Value of CATL Partnership
Jinhua, China, Sept. 28, 2026 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (“Kandi” or the “Company”) (NASDAQ GS: KNDI), a global innovator in intelligent equipment and a technology-driven platform company, today announced that its wholly-owned subsidiary, China Battery Exchange (Zhejiang) Technology Co., Ltd. (“China Battery Exchange”), has secured a second batch procurement order for heavy-truck battery swap station equipment from QIJI Energy, a subsidiary of Contemporary Amperex Technology Co., Limited (“CATL”). The order follows just two months after the initial batch order placed in July 2026, highlighting the continued commercial development of the Company’s relationship with CATL.
China Battery Exchange’s cooperation with CATL began in August 2025, when the two companies signed a Framework Procurement Contract under which China Battery Exchange became part of CATL’s global supplier network and began coordinating CATL’s first order for a heavy-truck battery swap station, which was secured later that month. In January 2026, China Battery Exchange entered into a three-year strategic cooperation agreement to serve as a designated equipment supplier for QIJI Energy’s heavy-truck battery-swapping program. In July 2026, QIJI Energy placed its first batch procurement order under the strategic cooperation agreement, marking China Battery Exchange’s transition from product validation to commercial deployment. With its supplier relationship with CATL and approved-supplier status with QIJI Energy, China Battery Exchange is positioned to pursue additional equipment orders in connection with CATL’s heavy-truck battery-swapping program .
China Battery Exchange’s Lin’an intelligent manufacturing facility commenced production in July 2026. With an expected annual production capacity of up to 200 battery swap stations, the facility is intended to support China Battery Exchange’s ability to fulfill existing and potential future orders from CATL and serve additional battery swap equipment customers.
Feng Chen, CEO of Kandi, commented, “We have received two batch orders within eight months of signing the QIJI Energy agreement, reflecting CATL’s continued confidence in our products and delivery capabilities as well as the commercial potential of this partnership. We will continue to advance product development, expand production capacity and improve delivery efficiency to capture opportunities in the emerging heavy-truck battery swap market and establish battery swap equipment as a new growth engine for Kandi.”
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.
About Kandi Technologies Group, Inc.
Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) is a global innovator in intelligent equipment and a technology-driven platform company. It leverages technological innovation, a global supply chain, and advanced manufacturing to transform industries and expand real-world applications, bringing technology closer to people’s everyday lives. Guided by a “one core, two growth engines” framework, the Company anchors its business in all-domain intelligent vehicles, with battery swapping equipment and intelligent robotics as two growth pillars. Driven by its mission to bring joy to daily life, Kandi Technologies fosters shared success and sustainable, long-term growth through open collaboration and mutually beneficial partnerships, creating enduring industrial and societal value while building a globally respected brand.
For more information, please visit ir.kandigroup.com. The Company provides important updates on its website.
For investor and media inquiries, please contact:
Kandi Technologies Group, Inc.
Kewa Luo
Tel: +1 (212) 551-3610
Email: IR@kandigroup.com
Piacente Financial Communications
Brandi Piacente
Tel: +86-10-6508-0677
Email: Kandi@thepiacentegroup.com
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