Spotlight Growth
No Result
View All Result
Wednesday, February 1, 2023
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
No Result
View All Result
No Result
View All Result
Home Technology

Kandi Technologies Group, Inc. (NASDAQ: KNDI) Jumps 22% After Receiving Approval for the Pure Electric Vehicle Project

by admin
January 9, 2019
in Technology
0
Kandi Technologies Group NASDAQ KNDI Approval Electric Cars News

Kandi Technologies Group NASDAQ KNDI Approval Electric Cars News

Kandi Technologies Group, Inc. (NASDAQ: KNDI), through its subsidiaries, is engaged in the research, development, manufacturing, and sales of various vehicular products. Shares jumped 21.67% on Wednesday, January 9, 2019. Over the past three months, Kandi Technologies Group has seen an average daily volume of 307,010 shares. However, on Wednesday, 1,765,988 shares traded hands, equating to $9.52 million in dollar volume.

Shares surged Wednesday after Kandi Technologies Group announced Kandi Electric Vehicles Jiangsu Co., Ltd., a wholly-owned subsidiary of Kandi Electric Vehicles Co., Ltd., received approval from the Jiangsu Development and Reform Commission for its pure electric vehicle project. The approval specifically allowed for the annual capacity of 50,000 electric vehicles, which was “granted pursuant to the provisions of Announcement No.22 – the ‘Regulations on the Administration of Investment in the Automobile Industry’ published on December 18, 2018, by the National Development and Reform Commission.” Hu Xiaoming, Chairman and CEO of Kandi, commented, “In light of the positive outcome, this will be one of the many milestones in 2019 which will enhance Kandi’s brand value and competitiveness, and in turn, driving Kandi’s EV business growth to the next level.” Here is the full press release detailing the approval for Kandi’s pure electric vehicle project:

Kandi Technologies Group, Inc. Press Release:

JINHUA, China, Jan. 09, 2019 (GLOBE NEWSWIRE) — Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), announced today that Kandi Electric Vehicles Jiangsu Co., Ltd. (“Kandi Jiangsu”), the 100% owned subsidiary of Kandi Electric Vehicles Co., Ltd. (the “JV Company”, a joint venture owned by Kandi Vehicles, Geely Group, Ltd., and Geely Group (Ningbo) Ltd. with each company owning 50%, 26.08%, and 23.92% stakes in the venture respectively) received an approval notice from Jiangsu Development and Reform Commission regarding Kandi Jiangsu’s annual capacity of 50,000 pure electric vehicles project (“EV Project”) on January 8, 2019. The approval was granted pursuant to the provisions of Announcement No.22 – the “Regulations on the Administration of Investment in the Automobile Industry” (“Auto Regulations”) published on December 18, 2018 by the National Development and Reform Commission (the “NDRC”). Kandi Jiangsu’s EV Project application was assigned to the Jiangsu Provincial Development and Reform Commission to review and approve.

Mr. Hu Xiaoming, Chairman and CEO of Kandi commented, “Due to the State’s initiative on the Renewable Energy Vehicle Enterprise Clean-up Regulations Act in May 2017, the approval process for the new independent pure electric vehicle enterprise investment project was suspended, which negatively impacted Kandi’s operations. Announcement No.22- Auto Regulations was issued afterwards to replace the original Announcement No. 27. The updated regulations increased the difficulty by raising the standards for passing applicants. However, under Article 48 in the updated regulations, the applicants prior to the execution of the Renewable Energy Vehicle Enterprise Clean-up Regulations Act have been reviewed based on the old rules by the Provincial Development and Reform Commission, therefore, Kandi Jiangsu was approved. Only three enterprises nation-wide were approved. This approval of Kandi’s EV Project marks a milestone for the Company. In light of the positive outcome, this will be one of the many milestones in 2019 which will enhance Kandi’s brand value and competitiveness, and in turn, driving Kandi’s EV business growth to the next level.”

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua Economic Development Zone, 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 Vehicles Co., Ltd. (“Kandi Vehicles”), SC Autosports, LLC, the wholly-owned subsidiary of Kandi Vehicles, and Kandi Electric Vehicles Group Co., Ltd. (the “JV Company”). Kandi Vehicles has established itself as one of China’s leading manufacturers of pure electric vehicle parts and off-road vehicles.

In 2013, Kandi Vehicles and Geely Group, China’s leading automaker, jointly invested in the establishment of the JV Company in order to develop, manufacture and sell pure electric vehicle (“EV”) products. As of 2018, each party has invested RMB 1.045 billion in the JV Company, for a total investment of RMB 2.09 billion with each party holding a 50% stake in the JV Company. The JV Company has established itself as one of the driving forces in the development and the manufacturing of pure EV products in China.

More information about KNDI is available on the Company’s corporate website at http://www.kandivehicle.com. The Company routinely posts important information on its website.

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.

Article By: Andrew Rego

Tags: acquisitionChinaChina stockscommon stockelectric carselectric vehiclesemerging growthenergyinvestinginvestmentmanufacturingMergermicrocap stocksNASDAQnewspublic companysalessmall cap companiessmall cap stockssmall capsSpotlight GrowthSpotlight Growth Stocksstock marketstockstechTechnologytechnology stockstrading
  • Trending
  • Comments
  • Latest
Asure Software NASDAQ ASUR Human Capital Management HCM Industry Spotlight Growth

Asure Software (NASDAQ: ASUR) is Expanding to Meet the Rising Demand for Human Capital Management Software

September 27, 2022
OLB Group NASDAQ OLB Cuentas NASDAQ CUEN Partnership Fintech Spotlight Growth

OLB Group (NASDAQ: OLB) and Cuentas (NASDAQ: CUEN) Team Up to Bring Fintech Solutions to Over 32,000 Bodegas Across the United States

October 6, 2022
Siyata Mobile NASDAQ SYTA SYTAW SD7 VK7 Purchase Orders Spotlight Growth

New Purchase Orders for SD7 Rugged Device, VK7, and Other Accessories Boost Siyata Mobile’s Outlook (NASDAQ: SYTA)

December 14, 2021
Telcoin TEL Crypto Spotlight Growth

Telcoin (TEL) Quietly Leads a Crypto Remittance Revolution

June 15, 2021
Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

0
Safe-T SFET NASDAQ UN Presentation

Safe-T (NASDAQ: SFET) Has Been Selected to Present at the United Nations’ Office of Information and Communications Technology Event

0
Safe-T Group SFET Q4 FY 2020 Financial Results

Safe-T Group (NASDAQ: SFET) Reports Fourth Quarter and Full Year 2020 Financial Results

0
Safe-T Group NASDAQ SFET FY 2020 Prelim

Safe-T Group Ltd. (NASDAQ: SFET) Estimates Record-High Annual Revenues of Approximately $4.9 Million Representing ~50% Growth YoY 2020

0
Versus Systems NASDAQ VS Resolve Debt Partner AI Gamification Consumer Debt Spotlight Growth

Versus Systems (NASDAQ: VS) and Resolve Debt Partner to Integrated Generative AI and Gamification to Customer Payments and Credit Markets

February 1, 2023
Finding the Most Accurate Technical Analysis Indicator Spotlight Growth

Finding the Most Accurate Technical Analysis Indicator

January 31, 2023
Introduction to Stock Options Trading Educational Spotlight Growth

Introduction to Stock Options

January 31, 2023
Oxbridge Re NASDAQ OXBR SurancePlus Tokenized Reinsurance Contracts Spotlight Growth

Oxbridge Re (NASDAQ: OXBR) Announces Its New Subsidiary SurancePlus: To Issue Tokenized Reinsurance Securities

February 1, 2023
ADVERTISEMENT

Recent News

Versus Systems NASDAQ VS Resolve Debt Partner AI Gamification Consumer Debt Spotlight Growth

Versus Systems (NASDAQ: VS) and Resolve Debt Partner to Integrated Generative AI and Gamification to Customer Payments and Credit Markets

February 1, 2023
Finding the Most Accurate Technical Analysis Indicator Spotlight Growth

Finding the Most Accurate Technical Analysis Indicator

January 31, 2023

Categories

  • Bio/Med/Pharma
  • Cannabis
  • Commodities
  • Consumer Goods
  • Crowdfunding
  • Crypto Cheat Sheets
  • Cryptocurrency
  • Earnings
  • Education
  • Entertainment
  • Financials
  • Market News
  • Opinion
  • Politics
  • Real Estate
  • Split Watch
  • Sponsored
  • Store
  • Technology
  • Uncategorized
  • Venture Capital/Private Equity (VC/PE)

Site Navigation

  • Disclosures
  • Terms Of Service
  • Privacy Policy
  • Contact Us

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

No Result
View All Result
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

Newsletter Signup

Subscribe to our weekly newsletter below and never miss the latest small/micro-cap analysis and investment news from Spotlight Growth.

Enter your email address

Thanks, I’m not interested