JINHUA, China, March 25, 2019 (GLOBE NEWSWIRE) — Kandi Technologies Group, Inc. (the Company, we or Kandi) (NASDAQ GS: KNDI), announced today that Kandis wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (“Kandi Vehicles”) signed an Equity Transfer Agreement (the Transfer Agreement) on March 21, 2019 with Geely Technologies Group Co., Ltd. (Geely) to transfer certain equity interests in the Kandi Electric Vehicles Group Co., Ltd ( the JV Company) to Geely. Given Geelys competitive strength and recognition in the global automotive industry, this deal could help significantly accelerate the growth of the JV Company. Pursuant to the Transfer Agreement, the parties have agreed to some of the key terms below:
- The JV Company agree…
Read the full article at: https://globenewswire.com/news-release/2019/03/25/1760148/0/en/Kandi-Technologies-Announces-Equity-Restructuring-of-the-JV-Company.html