Advancing Community New Energy Mobility across China with a Scalable, Long-Term Operating Model

JINHUA, China, July 07, 2026 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (“Kandi” or the “Company”), a global innovator in intelligent equipment and a technology-driven platform company, today announced that its subsidiary, Kandi Electric Vehicles (Hainan) Co., Ltd. (“Kandi Hainan”), has entered into an exclusive five-year strategic cooperation agreement with Zhejiang Greentown Community Business Group Co., Ltd. (“Greentown Community Business Group”). Under the agreement, the parties will collaborate on the commercial deployment of electric sightseeing vehicles, classified as low-speed electric vehicles (“LSVs”) across residential community settings, with the goal of jointly advancing a community-focused new energy mobility ecosystem.

China’s national “Dual Carbon” goals and the continued development of smart community initiatives are driving a structural shift in community transportation from conventional vehicles toward electrified, intelligent solutions. Short-distance transit, intra-community shuttling, and property operations represent growing and recurring sources of demand that are well suited to LSV deployment. This partnership positions Kandi to capitalize on this opportunity in a segment with the potential for high asset utilization, recurring revenue opportunities, and nationwide scalability. The Company expects the collaboration to further expand its domestic off-road electric vehicle business while strengthening business resilience and generating sustainable cash flow.

As a leading new energy vehicle manufacturer in China’s Hainan Free Trade Port, Kandi Hainan will supply a range of electric sightseeing vehicles and other LSV products, as well as intelligent dispatching systems and an end-to-end safety traceability framework. Building on Greentown Community Business Group’s expertise in property management and community operations, the parties will jointly develop an integrated “Product + Operation + Service” solution designed to enhance user experience, deepen customer engagement, increase per-project revenue, and improve overall profitability.

Mr. Feng Chen, Chief Executive Officer of Kandi, commented, “This exclusive five-year partnership with Greentown Community Business Group marks an important milestone in Kandi’s effort to expand its off-road new energy vehicle business. Community mobility addresses recurring, everyday transportation needs and offers strong potential for replication across residential communities, making it a compelling application for new energy transportation solutions. By establishing a long-term channel partnership with a leading community service platform, we expect to further strengthen our market reach and accelerate the evolution of our business model from single-product manufacturing toward an integrated ‘Product + Operation + Service’ approach. Over time, we believe this will enhance our revenue mix, profitability, and cash flow profile. We also remain committed to advancing green and low-carbon community development, fulfilling our corporate sustainability responsibilities, and delivering long-term value for shareholders.”

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (NASDAQ: 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” strategic framework, the Company anchors its business in all-domain intelligent vehicles, with battery swapping equipment and intelligent robotics as two strategic growth pillars. Driven by its mission to bring joy to daily life, Kandi 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.

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.

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