AcquisitionsJun 29, 2026, 05:00 AM
Kandi Acquires 51% Stake in Xinchu for $2.9M
AI Summary
Kandi Technologies Group, Inc. announced it has entered into investment agreements to acquire a 51% controlling stake in Hangzhou Xinchu New Energy Technology Co., Ltd. for approximately US$2.9 million. Xinchu is a provider of lithium battery backup power and battery management systems for data centers and telecom base stations. This strategic investment positions Kandi in the rapidly growing AI data center backup power and energy storage market, with the transaction expected to close in July 2026.
Key Highlights
- Kandi Technologies to acquire a 51% controlling stake in Hangzhou Xinchu New Energy Technology Co., Ltd.
- Total cash consideration for the acquisition is RMB20 million (approximately US$2.9 million).
- Xinchu specializes in lithium battery backup power and battery management systems for data centers and telecom base stations.
- The acquisition marks Kandi's strategic expansion into the global AI data center backup power and energy storage market.
- Xinchu's offerings include UPS lithium battery packs, high-rate backup power cabinets, and proprietary BMS.
- The transaction is expected to close in July 2026.
Price Impact
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