Kandi Technologies Group has signed a strategic cooperation agreement for the sale and lease of a total of 5,000 Kandi brand electric vehicles in Chengdu City.
The agreement was signed between Kandi Electric Vehicles Group, local car dealer Dongchuang Jianguo Auto Group (E-Kingo) and leasing company ZuoZhongYou (Chengdu) Electric Vehicle Service Co., Ltd. (ZZY-Chengdu).
According to the agreement, E-Kingo will sell the EVs to ZZY-Chengdu at the discounted price that reflects the deduction of the local subsidy and ZZY-Chengdu will be in charge of the overall EV leasing operations. The electric vehicles are expected to be delivered in Chengdu by the end of 2015.
Kandi Electric Vehicles Group Co. is a 50/50 joint venture between Kandi Technologies and Geely Automobile.