Kandi Affiliate Fengsheng Announces Subsidy Approval for New Maple 60V
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2020-07-22
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JINHUA, CHINA-- (July 22, 2020) - Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), today announced that the Maple 60V all-electric MPV (Multi-purpose Vehicle) produced by its affiliate company Fengsheng Automotive (the “Affiliate Company” or “Fengsheng”) was approved for purchase subsidies by China’s Ministry of Industry and Information Technology (“MIIT”). Subsidy approval is a key milestone as Fengsheng brings the 60V to market in the near future.
The Maple 60V is the next offering in a planned series of versatile, MPV featuring style, performance and comfort. The Maple 60V follows the recently introduced Maple 30X, which is seeing strong initial interest. A key feature of the 60V will be a swappable battery, which enables quick “refueling” and reduced range anxiety.
“We are pleased that Fengsheng is announcing the fulfillment of this key milestone for the Maple 60V,” commented Xiaoming Hu, Kandi Technologies Chairman and Chief Executive Officer. “With sales starting for the 30X and the 60V coming soon, we are impressed with the burgeoning family of city pure electric vehicles being produced by our affiliate company. We look forward to growing sales as distribution expands and the Chinese economy gradually returns to normal.”
The Maple 60V is the next offering in a planned series of versatile, MPV featuring style, performance and comfort. The Maple 60V follows the recently introduced Maple 30X, which is seeing strong initial interest. A key feature of the 60V will be a swappable battery, which enables quick “refueling” and reduced range anxiety.
“We are pleased that Fengsheng is announcing the fulfillment of this key milestone for the Maple 60V,” commented Xiaoming Hu, Kandi Technologies Chairman and Chief Executive Officer. “With sales starting for the 30X and the 60V coming soon, we are impressed with the burgeoning family of city pure electric vehicles being produced by our affiliate company. We look forward to growing sales as distribution expands and the Chinese economy gradually returns to normal.”
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