Chinese electric vehicle maker Kandi Electric Vehicles Group announced that it has completed the sale and delivery of 700 Kandi electric vehicles to the Guangzhou MingZhi Auto Trade Co., a local auto distributor in Guangzhou
700 Kandi brand EVs including 550 SMA7000BEV and 150 SMA7001BEV were delivered to Guangzhou MingZhi. The sales revenue for the 700 EVs is valued at approximately RMB 90.2 million or USD 14.5 million.
The sale and delivery were completed Dec. 16, Kandi Technologies said.
Guangzhou Mingzhi will be responsible for promoting and implementing EV leasing businesses in Guangzhou market. Working directly with the local auto distributor will be an effective marketing strategy to enhance Kandi brand’s market visibility and attract more renewable energy automobile pilot cities to promote and purchase Kandi brand EVs. Guangzhou is one of the national renewable energy automobile pilot cities, therefore, the purchaser of Kandi’s two EV models are eligible to receive the same amount of subsidy payment from both the national government and the local government.
Kandi Electric Vehicles Group Co. is a 50/50 joint venture between Kandi Technologies and Geely Automobile.
Guangzhou, located in South China, is the capital city of Guangdong province with a population of more than 13 million. Guangzhou serves as an important national transportation hub and trading port. Since 1957, in spring and autumn each year, China’s largest trade fair with the most complete exhibit varieties and the broadest distribution of global buyers, “China Import and Export Fair”, also known as “Canton Fair”, is held in Guangzhou.
