KANDI TECHNOLOGIES GROUP, INC. (NASDAQ:KNDI) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01.
On March 6, 2020, Zhejiang Kandi Vehicles Co., Ltd. ("Kandi Vehicles"), the wholly-owned Chinese subsidiary of Kandi Technologies Group, Inc. (the “Company”) entered into an agreement with the Jinhua Economic and Technological Development Zone (“Jinhua Zone” or “local government”), to which the local government shall purchase the land use right over the land of 66 acres (400 mu, 265,029 square meters) that is owned by Kandi Vehicles for RMB 525 million ($75 million). Payments to Kandi Vehicles shall be made as follows:
On March 9, 2019, the Company issued a press release announcing its entry into the agreement. A copy of the press release is attached hereto as Exhibit 99.1.
The information contained in this Item 7.01 is not “filed” for purposes of the Securities Exchange Act of 1934, as amended, and is not deemed incorporated by reference by any general statements incorporating by reference this report or future filings into any filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except to the extent the Company specifically incorporates the information by reference.
(d) Exhibits.
| Description | |
| 99.1 | Press Release dated March 9, 2020 |
Kandi Technologies Group, Inc. Exhibit
EX-99.1 2 ea119415ex99-1_kanditech.htm PRESS RELEASE DATED MARCH 9,…
To view the full exhibit click here
About KANDI TECHNOLOGIES GROUP, INC. (NASDAQ:KNDI)
Kandi Technologies Group, Inc. (Kandi) is focused on the development of pure electric vehicle (EV) products and manufacturing electric vehicle’s parts. The Company’s business operations are the design, development, manufacturing and commercialization of electric vehicles, electric vehicle parts and off-road vehicles, which are distributed in China and global markets. Its products include EV parts, EV products and off-road vehicles, including all-terrain vehicles, utility vehicles, go-karts and others. The Company conducts its business operations through its subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (Kandi Vehicles), and the partial subsidiaries of Kandi Vehicles. The Company focuses on fuel efficient, pure EV parts manufacturing. Its subsidiary, Jinhua Kandi New Energy Vehicles Co., Ltd., holds battery packing production rights, and supplies the battery pack to the joint venture company.