Chinese electric vehicle maker Kandi Electric Vehicles Group announced that it has completed the sale and delivery of 1,000 Kandi electric vehicles to the leasing company ZuoZhongYou Electric Vehicle Service.
The sales revenue for the 1,000 EVs is approximately RMB 133 million (USD 21.5 million) including 500 of each SMA7000BEV and SMA7001BEV, which will be used for the newly launched Car-Share Program and Group Long-term Leasing Program in Chengdu upon the receipt of the vehicle license plate registration approval.
The leasing company’s owner, Zhejiang ZuoZhongYou Electric Vehicle Service, is “the first in market to initiate the EV sharing program,” Kandi said.
The sale and delivery were completed Dec. 16, Kandi said.
Kandi Electric Vehicles Group Co. is a 50/50 joint venture between Kandi Technologies and Geely Automobile.
Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi, commented, “The growth in EV industry in China is driven by the much-needed improvement in environmental contamination, traffic congestion, and scarce parking. We expect demand for EVs to accelerate going forward given government policies at all levels. Despite the weakness in crude oil price, our innovative Car-Share business model will continue to expand rapidly into more regions throughout China.”