Jinhua, China, Aug. 18, 2025 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the “Company” or “Kandi Technologies”) (NASDAQ GS: KNDI), long renowned as a leader in all-electric personal transportation and utility vehicles, today announced that its wholly-owned subsidiary, China Battery Exchange (Zhejiang) Technology Co., Ltd. (“China Battery Exchange”), has secured its first major order for heavy-truck battery swap station equipment from Contemporary Amperex Technology Co., Ltd. (“CATL”), a global leader of new energy innovative technologies.

This milestone not only delivers immediate revenue potential, it also officially brings China Battery Exchange into CATL’s global supplier ecosystem, providing essential hardware support for CATL’s “Ten Thousand Station Plan.” With a target of 500 battery swapping stations in 2025 and a long-term goal exceeding 10,000 stations nationwide.

Under this order, China Battery Exchange will provide core station structures, advanced robotic arm systems, and precision temperature-controlled battery compartments designed for heavy-duty truck applications.

Mr. Feng Chen, CEO of Kandi Technologies, commented: “Securing our first heavy-truck battery swap station order from CATL is a landmark achievement for Kandi Technologies, marking our official integration into CATL’s global supplier ecosystem. This partnership validates our technological leadership in intelligent, standardized battery swap solutions and solidifies our strategic position within the rapidly growing new energy infrastructure sector. As a partner for CATL’s ambitious ‘Ten Thousand Station Plan,’ we are strategically positioned to help drive the nationwide expansion of the battery swap network by providing high-performance, fully integrated hardware, unlocking long-term value for our company and shareholders.”

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 Contemporary Amperex Technology Co., Ltd.

Contemporary Amperex Technology Co., Ltd., established in 2011, is a global leader in the research and manufacturing of lithium-ion batteries. The company focuses on the research, production, and sales of power battery systems and energy storage systems for new energy vehicles, and is committed to providing world-class solutions for global new energy applications. Its core technologies include the entire industry chain research and manufacturing capabilities in the fields of power and energy storage batteries, materials, cells, battery systems, and battery recycling and reuse. In 2017, the company's power lithium battery shipments led the world, reaching 11.84 GWh. It has established cooperative relationships with many mainstream domestic automobile companies and has successfully occupied a place in the global market, also becoming one of the first domestic lithium-ion power battery manufacturers to enter the supply chain of top international automobile companies.

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) is a leader in the research, development, and manufacturing of all-electric personal transportation and utility vehicles. Headquartered in Jinhua, China, the Company’s primary focus is on off-road mobility solutions, with a strategic emphasis for the North American market, while actively pursuing opportunities in other related emerging high-tech areas. Through its subsidiaries, Kandi Technologies leverages its robust manufacturing capabilities and technological expertise to deliver innovative products for a wide range of commercial and consumer applications.

For more information, please visit ir.kandigroup.com.

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: +1-212-481-2050
Email: Kandi@thepiacentegroup.com

Piacente Financial Communications
Hui Fan
Tel: +86-10-6508-0677
Email: Kandi@thepiacentegroup.com