Jinhua, China, Aug. 18, 2025 — Kandi Technologies Group, Inc. (referred to as “Kandi Technologies” or the “Company”) (NASDAQ GS: KNDI), a well-known 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 received its first significant order for heavy-truck battery swap station equipment from Contemporary Amperex Technology Co., Ltd. (“CATL”), a global leader in innovative new energy technologies.

This achievement offers immediate revenue possibilities and also formally integrates China Battery Exchange into CATL’s global supplier network, delivering critical hardware support for CATL’s “Ten Thousand Station Plan,” which aims for 500 battery swapping stations in 2025 and a long-term goal of over 10,000 stations nationwide.

According to the order, China Battery Exchange will supply essential station structures, sophisticated robotic arm systems, and precise temperature-controlled battery compartments developed for heavy-duty truck applications.

Mr. Feng Chen, CEO of Kandi Technologies, stated: “Receiving our first heavy-truck battery swap station order from CATL is a significant accomplishment for Kandi Technologies, representing our official entry into CATL’s global supplier network. This collaboration confirms our technological leadership in intelligent, standardized battery swap solutions and strengthens our strategic position within the rapidly expanding new energy infrastructure sector. As a partner in CATL’s ambitious ‘Ten Thousand Station Plan,’ we are strategically positioned to help facilitate the nationwide expansion of the battery swap network by delivering high-performance, fully integrated hardware, creating long-term value for our company and shareholders.”

Safe Harbor Statement

This press release includes statements that may be considered “forward-looking statements.” All statements that are not historical facts are “forward-looking statements.” These statements are often identified by terms such as “believes,” “expects,” or similar expressions, and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they are based on assumptions, risks, and uncertainties, and there is no guarantee that these expectations will be correct. Investors are cautioned not to place undue reliance on these forward-looking statements, which are relevant only as of the date of this press release. The Company’s actual results may differ significantly from those projected in these forward-looking statements due to various factors, including the risk factors detailed in the Company’s periodic reports filed with the Securities and Exchange Commission and available on the SEC’s website (). All forward-looking statements attributable to the Company or persons acting on its behalf are explicitly qualified in their entirety by these risk factors. The Company is not obligated to update these forward-looking statements unless required by applicable securities laws.

About Contemporary Amperex Technology Co., Ltd.

Contemporary Amperex Technology Co., Ltd., founded in 2011, is a leading global company 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 dedicated to providing world-class solutions for global new energy applications. Its core technologies encompass the entire industry chain, including research and manufacturing capabilities in 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 established itself 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.

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Kandi Technologies Group, Inc.
Kewa Luo
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