Kandi’s International Off-Road Vehicle Business Reaches Customers in 35 Countries and Regions, Expanding in Africa, Southeast Asia, Latin America and the Middle East Alongside Robust Momentum in the North American Market

JINHUA, China, June 22, 2026 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the "Company" or "Kandi") (NASDAQ GS: KNDI), a global innovator in intelligent equipment and a technology-driven platform company, today provided an update on the expansion of its international off-road vehicle business. The Company continues to strengthen its presence in its core North American market while expanding across Africa, Southeast Asia, Latin America and the Middle East. Kandi’s off-road vehicle product lineup is now available to customers in 35 countries and regions worldwide.

The Company’s growth strategy for overseas markets outside North America has evolved from a primarily volume-driven model to a dual-track approach focusd on both order expansion and brand localization, tailored to regional consumption patterns and distribution structures. Through region-specific distribution strategies and premium marketing initiatives tailored to local consumers, the Company is expanding its market presence, enhancing brand recognition, and supporting its long-term international growth objectives.

South Africa has become an anchor market for the Company’s expansion in Africa, supported by a network of six authorized dealers, localized product development and a series of brand marketing initiatives targeting high-end consumers. New and follow-on orders have been signed in recent weeks across South Africa and Nigeria.

On April 13, 2026, Kandi’s exclusive distributor for South Africa visited the Company’s production base in Hainan to test drive the full 2026 model lineup and provide feedback on vehicle design, feature configuration and localization based on local driving conditions and customer preferences. The visit culminated in the finalization of the production schedule and new model launch plan for the second half of 2026, as well as an on-site vehicle order.

On May 6, 2026, a Nigeria-based recreational vehicle dealer placed a follow-on order during a return visit to the Company. Following the introduction of the Company's 1104FQ3 golf cart to the local customers, the dealer reported positive customer feedback and growing market interest. Drawing on the successful operating model established in South Africa, the parties agreed to pursue the development of a branded showroom and a localized after-sales service network in Nigeria. They also plan to expand the product portfolio to include civilian-use models, supporting the Company’s efforts to further strength its presence in West Africa.

Since the second half of 2025, Kandi has conducted a series of brand marketing initiatives in South Africa to enhance brand awareness among target customer groups. These initiatives included a November 2025 event with the Golden Lions professional rugby team at Benoni Country Club; a December 2025 sponsorship event involving the Stinger GC team on the LIV Golf circuit at Pinnacle Point Beach Golf Resort; and a golf-themed event held in May 2026 at Irene Country Club in Pretoria, which featured local recording artist Jo Black and showcased the Kandi Kruiser 4P to club members and prospective customers.

Meanwhile, Kandi continues to pursue opportunities across Southeast Asia’s tourism, resort and golf course sectors, where its diversified vehicle portfolio is well positioned to meet a wide range of operational needs. On April 22, 2026, an operator of premium resorts and golf courses in Laos visited the Company to test drive Kandi’s full product lineup, and expressed strong interest in the 1104FQ3 golf cart and multi-passenger shuttle vehicles for use in resort operations and on-site transportation. The customer is currently evaluating tariff and cross-border logistics considerations in connection with a potential initial sample order. The parties also discussed the possibility of larger-volume purchases in the future should the initial evaluation prove successful.

Kandi is also accelerating its expansion into Latin America, including Panama, Argentina, and other targeted markets, through partnerships with established local dealers aimed at strengthening its regional distribution network.

Following the conclusion of the Canton Fair, a Panama-based dealer specializing in golf carts and UTVs visited Kandi’s Hainan facility on April 21, 2026, and subsequently placed an on-site order after expressing strong interest in Kandi’s four-wheel-drive off-road product line. During the visit, the dealer reviewed the Company’s manufacturing scale, quality control systems and product development capabilities. On April 26, 2026, an Argentina-based recreational vehicle dealer also visited the facility to evaluate the Company’s products and operations. The parties discussed regional football-related marketing initiatives and localized product customization opportunities, and reached a preliminary, non-binding agreement regarding a potential regional distribution arrangement.

Mr. Feng Chen, Chief Executive Officer of Kandi, commented, "Our core North American market continues to demonstrate strong momentum, and we are also making rapid progress in expanding across these emerging markets. We will continue to pursue a dual-track strategy of order expansion and brand localization across Africa, Southeast Asia, Latin America and the Middle East, building out local distribution, and after-sales and brand operations in each region. In the remainder of 2026 and in 2027, we will continue to iterate regionally-customized vehicle models and deepen our sports- and leisure-focused marketing initiatives, with the goal of steadily increasing these markets’ contribution to our recurring revenue base and delivering durable returns for our global shareholders."

Safe Harbor Statement

This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on the SEC’s website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements.

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) is a global innovator in intelligent equipment and a technology-driven platform company. Headquartered in Jinhua, China, the Company’s primary focus is on intelligent mobility solutions, with a strategic emphasis on the North American market, while actively pursuing opportunities in battery swap equipment, intelligent robotics and other 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.

For more information, please visit ir.kandigroup.com. The Company routinely posts important updates on its website.

For investor and media inquiries, please contact:

Kandi Technologies Group, Inc.

Kewa Luo

Tel: +1 (212) 551-3610

Email: IR@kandigroup.com

Piacente Financial Communications

Brandi Piacente

Tel: +86-10-6508-0677

Email: Kandi@thepiacentegroup.com