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Kandi Technologies Group Inc (NASDAQ:KNDI)’s Electric Vehicles Becomes A Part Of Shanghai Car-Share Program

Boston, MA 08/20/2014 (wallstreetpr) – Kandi Technologies Group Inc (NASDAQ:KNDI) delivered firt 208 electric vehicles to become a part of Shanghai Car-Share Program. Electric Vehicle Service Co., Ltd. was formed on June 16, 2014 in Shanghai. It was established by Zhejiang ZuoZhongYou. The launching ceremony was conducted by Electric Vehicle Service Co., Ltd. based at Jinshan District in Shanghai. The 208 electric vehicles were sent to four rental stations in Shi Hua, Ting Lin, Feng Jing and Zhu Jing towns for users’ immediate use.

The plan

The plan to bring in the Kandi’s electric vehicles was made when Mr. Ma Jing, the Deputy Director, of Electric Vehicles Development and his delegation group made a visit at Kandi Technologies Group Inc (NASDAQ:KNDI) production base. He only presented the thought of Shanghai Public EV Sharing System Pilot Project. He also presented his plan to deliver around 3000-5000 Kandi EVs by the end of 2014.

The official launch

As the Shanghai Jinshan Car-Share Program completes its official launch, it will show the expansion of the innovative Hangzhou Car-Share Program going forward into other cities in China. It will work as a business model for electric vehicle development. Kandi Technologies Group Inc (NASDAQ:KNDI) expects to see a higher number of cities promoting the idea of Car-Share Program along with the Long-term Group Leasing Program.

Car-Share Program

Electric Vehicle Service Co., Ltd. is the first company in the industry to start the public pure EV sharing program. Kandi Technologies Group Inc (NASDAQ:KNDI) holds a 9.5% interest in the Electric Vehicle Service Co., Ltd. Kandi has got 50% ownership in Kandi Electric Vehicles Group Co., Ltd. The innovative Car-share program makes use of the pure electric vehicles. The charging or the parking stations are located at train stations, business centers, hotels, airports, and other places. They offer a variety of services including maintenance, charging and battery recycling. The system provides the electric vehicle rental services to drivers in and around Hangzhou. The model was implemented in the city since the second half of 2013.

Published by Steve Hackney

Steve Hackney is a corporate finance professional with over 14 years of experience in cash management and investing. He earned a Bachelor of Science in Finance from Florida State University and holds a Certified Treasury Professional certification. Steve lives in Orlando, Florida with his family.

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