Lin’an facility supports scaled production of battery swap equipment for heavy-duty trucks

JINHUA, China, July 15, 2026 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. ("Kandi Technologies" or the "Company") (NASDAQ:KNDI), a global innovator in intelligent equipment and a technology-driven platform company, today announced that its wholly-owned subsidiary, China Battery Exchange (Zhejiang) Technology Co., Ltd. ("China Battery Exchange"), has begun production at its battery swap equipment manufacturing base in Lin’an. The commencement of production marks a milestone in the Company’s efforts to advance the scaled and standardized manufacturing of battery swap equipment and positions the Company to support the continued development of China’s heavy-duty truck battery swap infrastructure.

Kandi Technologies has been active in China’s battery swap equipment industry and has made sustained investments in battery swap technology. Its China Battery Exchange team has developed proprietary intelligent battery swap equipment protected by multiple core patents, enabling a full battery swap in as little as 90 seconds. The team previously qualified as a supplier within CATL’s global supplier system. In January 2026, Kandi Technologies and CATL’s QIJI Energy entered into a three-year strategic cooperation agreement covering the mass production of battery swap stations for heavy-duty trucks, as well as related after-sales and maintenance services. The cooperation supports CATL’s "10,000 Stations Plan," under which QIJI Energy aims to complete approximately 900 heavy-truck battery swap stations by the end of 2026.

At full capacity, the Lin’an facility is expected to have an annual production capacity of up to 200 battery swap stations, supporting future deliveries to CATL’s QIJI Energy and other strategic partners and strengthening the Company’s capabilities in battery swap equipment research and development, scaled production and integrated solutions.

The facility’s launch comes as Chinese authorities continue to advance policy support for new energy heavy-duty trucks under China’s Dual Carbon strategy. On July 10, 2026, the National Energy Administration released the Energy Sector Energy Conservation and Carbon Reduction Action Plan (2026–2028), which calls for the accelerated adoption of new energy heavy-duty trucks and expanded high-power charging and battery swap networks along expressways. This follows an earlier implementation plan jointly issued by the Ministry of Transport, the National Development and Reform Commission, the Ministry of Industry and Information Technology and eight other central government authorities, which targets 40% penetration for new energy heavy-duty trucks in new vehicle sales and a total fleet of more than 1.6 million new energy heavy-duty trucks by 2030, supported by approximately 3,000 dedicated charging and battery swap stations nationwide.

"The launch of our Lin’an facility is a key step in scaling up our production capacity of battery swap stations and a significant milestone for our new energy battery swap equipment business," said Feng Chen, Chief Executive Officer of Kandi Technologies. "Going forward, we intend to leverage the Lin’an facility as a key manufacturing hub for our new energy battery swap equipment, deepen our collaboration with industry leaders such as CATL, and support the standardized and broader deployment of battery swap infrastructure."

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (NASDAQ:KNDI) is a global innovator in intelligent equipment and a technology-driven platform company. It leverages technological innovation, a global supply chain, and advanced manufacturing to transform industries and expand real-world applications, bringing technology closer to people’s everyday lives. Guided by a "one core, two growth engines" strategic framework, the Company anchors its business in all-domain intelligent vehicles, with battery swapping equipment and intelligent robotics as two strategic growth pillars. Driven by its mission to bring joy to daily life, Kandi Technologies fosters shared success and sustainable, long-term growth through open collaboration and mutually beneficial partnerships, creating enduring industrial and societal value while building a globally respected brand.

For more information, please visit ir.kandigroup.com.

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.

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