Kandi Technologies Group, Inc.

Kandi Technologies Group's wholly-owned subsidiary, China Battery Exchange, has secured an equipment procurement order from QIJI Energy, a heavy-truck battery swap brand under CATL. This order for 18 heavy-truck battery swap stations signifies the partnership's transition from a pilot phase to active commercial operations. China Battery Exchange will provide end-to-end services, including manufacturing, delivery, deployment, and after-sales maintenance, supporting CATL's "Ten Thousand Station Plan."

Kandi Technologies Group, Inc. announced that its wholly-owned subsidiary, China Battery Exchange, has commenced production at its new battery swap equipment manufacturing base in Lin'an. This facility is designed to support the scaled and standardized manufacturing of battery swap equipment for heavy-duty trucks, with an annual production capacity of up to 200 stations. The move strengthens Kandi's collaboration with industry leaders like CATL's QIJI Energy, aligning with China's policy support for new energy heavy-duty trucks and the expansion of battery swap infrastructure.

Kandi Technologies Group announced that its subsidiary, Kandi Electric Vehicles (Hainan) Co., Ltd., has entered into an exclusive five-year strategic cooperation agreement with Zhejiang Greentown Community Business Group Co., Ltd. The partnership aims to deploy electric sightseeing vehicles and other low-speed electric vehicles (LSVs) across residential communities in China, advancing a new energy mobility ecosystem. Kandi expects this collaboration to expand its off-road EV business, strengthen resilience, and generate sustainable cash flow by shifting towards an integrated "Product + Operation + Service" model.

Kandi Technologies Group announced that Hangzhou Xinchu New Energy Technology Co., Ltd., which Kandi is acquiring 51% of, has been authorized by Schneider Electric IT (China) as a distributor for fiscal year 2026. This authorization enables Xinchu to distribute Schneider Electric's UPS systems, cooling infrastructure, and related services, strengthening Kandi's presence in the AI data center backup power and energy storage market. The partnership combines Schneider Electric's infrastructure with Xinchu's proprietary energy storage batteries and BMS technologies, offering integrated power solutions and enhancing Kandi's competitive position.

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.

Kandi Technologies Group announced the expansion of its international off-road vehicle business, now reaching customers in 35 countries and regions. The company is strengthening its presence in North America while growing in Africa, Southeast Asia, Latin America, and the Middle East. Kandi is implementing a dual-track strategy focusing on order expansion and brand localization, with specific examples including new orders from South Africa and Nigeria, and interest from dealers in Panama, Laos, and Argentina.

Kandi Technologies Group, Inc. announced the appointment of Mr. Yang Rui as an independent director, effective May 31, 2026. Mr. Rui, a senior engineer with a doctorate in Power Engineering and Engineering Thermophysics, brings extensive automotive industry experience to the board, including leadership roles at Zhejiang Bozhong Automotive Technology Co., Ltd. and Zhejiang University. Concurrently, Mr. Lin Yi resigned from his independent director position due to personal reasons, with no disagreements cited. Mr. Rui will also serve on the Compensation and Nominating and Corporate Governance Committees and receive an annual salary of approximately $8,823.

Kandi Technologies Group, Inc. announced its participation as a core equipment supplier at CATL’s 2026 Battery Charging and Swapping Supplier Conference, highlighting its long-term strategic collaboration with CATL. Kandi's leadership engaged in discussions with CATL's team on technology advancement and supply chain optimization. CATL unveiled plans to significantly expand its battery swap infrastructure, targeting 30,000 passenger vehicle, 10,000 heavy-truck battery swap stations, and 100,000 ultra-fast charging and swapping facilities. Kandi is well-positioned to capitalize on this expansion, leveraging its R&D and manufacturing expertise to align with CATL's deployment pace.

Kandi Technologies Group, Inc. announced it received a notification from Nasdaq on May 5, 2026, indicating non-compliance with the minimum bid price requirement. The company's shares traded below $1.00 for 30 consecutive business days. Kandi has 180 calendar days, until November 2, 2026, to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive business days. Failure to do so could lead to a transfer to the Nasdaq Capital Market or potential delisting.

Kandi Technologies Group, Inc. released a letter from CEO Feng Chen outlining its 2026-2030 Strategic Development Framework and dual-engine growth strategy. The company is transforming from a single-product manufacturer into a technology-driven platform, focusing on off-road electric vehicles and emerging battery swapping/intelligent robotics businesses. Kandi reported strong 2025 financial performance with gross margin expanding to 42.6% and net cash from operating activities reaching $96.8 million, alongside strategic moves like the Rawrr acquisition and a partnership with CATL.