Kandi Technologies Group, Inc. Stock Price, News & Analysis

Kandi Technologies reported Q2 2024 financial results with total revenues increasing to $39.1 million, up 8.9% year-over-year. The company's off-road vehicle segment was the primary revenue driver, growing 11.3% to $34.7 million. Net income was $1.6 million, or $0.02 per diluted share, compared to $4.4 million in Q2 2023. Kandi maintained a strong financial position with $220 million in cash and equivalents.

The company expanded its product lineup, launching officially licensed NFL-branded golf carts exclusively at Lowe's and introducing ultra-high capacity AA batteries in the U.S. market. Kandi also achieved EEC certification for its 10K all-electric UTV, enabling entry into the EU market. The company continued its share repurchase program, buying back 673,896 shares at an average price of $2.25 during Q2.

Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) has announced that it will report its second quarter 2024 financial results on Friday, August 16, 2024. The company has scheduled a conference call and live webcast to discuss these results at 8:00 A.M. Eastern Time (8:00 P.M. Beijing Time) on the same day. Management will deliver prepared remarks followed by a question and answer session.

Investors can access the call via toll-free dial-in at +1-877-407-3982 or international dial-in at +1-201-493-6780. A live audio webcast will be available on Kandi's Investor Relations page, with an archive accessible following the call.

Kandi Technologies Group (NASDAQ: KNDI) has signed a formal Partnership Agreement with Hartford Industrial Co., on August 6, 2024. This collaboration aims to leverage advanced industrial capabilities in Asia and access to the U.S. consumer market. Key points of the agreement include:

• Kandi authorizing Hartford Industrial to manufacture off-road vehicles for the U.S. market
• Production to meet U.S. export and Taiwan production standards
• Clearly defined procurement terms for vehicles and components
• Initial three-year agreement with automatic renewal option

The partnership is expected to enhance product quality, improve competitiveness, and deliver innovative, cost-effective all-electric off-road vehicles to customers.

Kandi America has partnered with Lowe's to launch a -edition collection of officially licensed NFL team golf carts. These electric vehicles, featuring logos and designs for all 32 NFL teams, are now exclusively available online at Lowe's. The carts boast a 5,000-watt motor and a 48V Lithium 150Ah battery, offering a 40-mile driving range. Key features include a 10" touch screen, Bluetooth wireless premium sound bar, and electric power steering. This collaboration aims to provide football fans with a unique way to showcase their team pride while embracing sustainable transportation.

Kandi Technologies Group (NASDAQ GS: KNDI) has announced the successful completion of trial production for its first batch of 10K fully electric UTVs manufactured by its Taiwanese partner, Hartford Industrial. These vehicles are now ready for shipment to the United States, marking a significant milestone in Kandi's expansion of manufacturing operations to Taiwan.

Dr. Xueqin Dong, CEO of Kandi Technologies Group, expressed satisfaction with the swift completion of the trial production, highlighting the company's readiness for mass production. This achievement underscores Hartford Industrial's robust manufacturing capabilities and is expected to enhance product quality and market competitiveness for Kandi's electric off-road vehicles.

Kandi Technologies Group (NASDAQ: KNDI) has announced a strategic cooperation agreement with SC Autosports (Kandi America) and Hartford Industrial. This collaboration aims to enhance product quality and market competitiveness. Under the agreement, Hartford Industrial will manufacture Kandi's off-road vehicles, including UTVs, golf carts, and low-speed vehicles, using Kandi-manufactured components. These vehicles will be sold exclusively through Kandi America. Trial production began in July 2024, with full-scale production expected by early 2025.

Kandi Technologies Group has announced the expansion of its UTV portfolio with the new Innovator e10K. This all-electric utility vehicle features dual AC electric motors with a 10,000-watt output, an 11.52 kWh lithium battery, and a J1772 charging port. The vehicle can reach speeds of up to 40 MPH, boasts a range of 60 miles, and can fully recharge in 8 hours using a standard 120V outlet. Designed for agility, it features high ground clearance, rugged tires, and independent double A-arm suspension. It has a cargo capacity of 441 lbs and a towing capacity of 2,500 lbs. Safety and utility are heightened with disc brakes, a winch, power cargo bed, and a 10-inch touchscreen with a backup camera. The Innovator e10K will soon be available through authorized dealers, with additional accessories and warranties offered.

Kandi Technologies Group announced the U.S. launch of its new AA battery, designed for exceptional longevity and efficiency. The battery features a 2700 mWh energy capacity, 1500 recharge cycles, and quick charging capabilities, delivering consistent 1.5V power in 2.5 hours. It is highly compatible with various devices like toys, remote controls, and flashlights. The primary sales channel will be Amazon. The company also introduced a compact Lithium Battery Charger with USB-C and intelligent safety features.

Kandi Technologies Group announced the launch of three new electric go-karts in the US via its subsidiary Kandi America. The models — Cyber 1000, Cyber 3000, and Dart 3000 — cater to both entry-level users and experienced riders. The Cyber 1000 features a 1,000W motor, compact design, and a top speed of 15 mph. The Cyber 3000 and Dart 3000 boast a 3,000W motor, advanced suspension systems, and top speeds of 18 mph. These eco-friendly go-karts eliminate noise, fumes, and high maintenance costs, promoting a cleaner off-road experience. Kandi aims to balance performance, affordability, and environmental benefits. The models are available for purchase on Kandi America's website.