Kandi Sells 1,000 Vehicles for Electric Carshare Program

The car-share program began last year in Hangzhou and has since been used in other Chinese cities including most recently in Chengdu.

Published: 19-Dec-2014

China-based electric-vehicle maker Kandi Technologies (NASDAQ:KNDI) on Wednesday announced that it has sold 1,000 electric vehicles to leasing company ZuoZhongYou Electric Vehicle Service for $21.5 million, a deal that comes amid that nation's growing pollution troubles.

The cars will be used in car-sharing and leasing programs that recently debuted in the Chinese city of Chengdu. The car-share program began last year in Hangzhou and has since been used in other Chinese cities.

The leasing company's owner, Zhejiang ZuoZhongYou Electric Vehicle Service, is "the first in market to initiate the ... EV sharing program," Kandi said.

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