Kandi EV - Make That NEV
208 deliveries all at once. That's the way to start off with a bang.
Kandi Technologies Group, Inc. announced that the first 208 Kandi brand electric vehicles were delivered as the official launch of Shanghai Jinshan public pure EV sharing program (the Shanghai Jinshan "Car-Share" Program) and Long-term Group Leasing Program.
All of 208 EVs were sent to rental stations in Zhu Jing, Shi Hua, Feng Jing and Ting Lin, four towns at Jinshan for users' immediate use.
Kandi's goal is to deliver 3,000 to 5,000 electric vehicles (technically neighborhood electric vehicles) by the end of 2014.
Mr. HuXiaoming, Chairman and Chief Executive Officer of Kandi Technologies, commented:
"The official launch of Shanghai Jinshan Car-Share Program has demonstrated the expansion of Hangzhou Car-Share Program into other major cities in China as the most preferred business model for EV development. We anticipate to see more and more cities adapting the Car-Share Program and Long-term Group Leasing Program in the near future."
Kandi is most well known for its Kandi machine, an EV vending machine that's so trick that Kandi shares skyrocketed as soon as it went into operation in China.
Kandi now mass produces electric vehicles too.
Kandi's Current EV/NEV Lineup
Some background on the car share program Kandi delivered vehicles to and on the long-term lease project touched upon above:
About the Car-Share Program
Zhejiang ZuoZhongYou Electric Vehicle Service Co., Ltd. ("ZZY") is the first in market to initiate the public pure EV sharing program (the "Car-Share" Program). Kandi Technologies, through its 50% ownership interest in Kandi Electric Vehicles Group Co., Ltd. (the "JV Company"), indirectly holds a 9.5% interest in ZZY.
Individually driven pure EVs are used in the Car-Share Program. The charging/parking stations which provide a variety of services, such as charging, maintenance, battery recycling, are located at airports, train stations, hotels, business centers, selected residential areas and other places that are typically congested. A network system provides EV rental service to individual drivers in and around the city. It also provides EV maintenance and battery charging to self-service users. Lastly, a tracking system allows the Car-Share Program management to keep a close watch at the status and precise location of each vehicle.
This Car-Share Program model has been implemented in Hangzhou since the second half of 2013, and has now begun to expand into other major cities in China.
The Group Long-term Lease Project is a lease model that uses enterprise, community or village as a lease unit and each unit leases a minimum of 100 EVs with a group lease term at a minimum of three years.