Kandi Technologies Group, Inc.: Kandi Technologies' Subsidiary China Battery Exchange Signs Agreement with CATL to Become Battery Swap Station Equipment Supplier

Jinhua, China, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the "Company" or "Kandi Technologies") (NASDAQ GS: KNDI), long renowned as a leader in all-electric personal transportation and utility vehicles, today announced that its wholly-owned subsidiary, China Battery Exchange (Zhejiang) Technology Co., Ltd. ("China Battery Exchange") has entered into a "Framework Procurement Contract" (the "Agreement") with Contemporary Amperex Technology Co., Ltd. ("CATL") (300750.SZ), a global leader of new energy innovative technologies.

This partnership marks China Battery Exchange's official entry into CATL's battery swap ecosystem, providing critical hardware support for CATL's "Ten Thousand Station Plan" and deepening Kandi Technologies' strategic footprint in the new energy infrastructure sector.

Pursuant to the terms of the Agreement, China Battery Exchange will provide standardized, high-performance battery swapping station equipment and comprehensive support solutions, including main station structures, advanced robotic arm systems, and precision battery compartment temperature control modules. With CATL's target to deploy 500 battery swapping stations this year and a long-term objective of over 10,000 stations all over mainland China, China Battery Exchange is well-positioned to capitalize on the substantial demand of battery swapping equipment and support solutions generated by this network. The Company anticipates a significant surge in future equipment orders as a result. China Battery Exchange and CATL commenced coordination on the first order for heavy-truck battery swap stations: the initial station is expected for delivery within three months, followed by a transition to small-batch production.

As a pioneering force in China's electric vehicle (EV) battery swapping ecosystem, Kandi Technologies continues to expand its technological footprint and leadership in this rapidly evolving industry. The Company's intelligent battery swapping system features nine core modules and offers key advantages, including one-click swapping, rapid 90-second battery swapping, automated billing, and real-time performance monitoring. Zhong Huan Electric, established in 2020, operates as a "comprehensive battery swapping solution provider" and delivers integrated "hardware + software + operation" solutions.

Mr. Feng Chen, CEO of Kandi Technologies, commented, "This partnership between China Battery Exchange and CATL represents a quintessential example of the synergy between a dedicated equipment supplier and an ecosystem leader. We are providing more than just advanced hardware, as we are helping accelerate the rollout of battery swap networks with standardized, intelligent solutions. This collaboration is set to unlock significant growth opportunities for Kandi Technologies within the new energy infrastructure sector."

About Contemporary Amperex Technology Co., Ltd.

Contemporary Amperex Technology Co., Ltd. (Stock Code: 300750.SZ), established in 2011, is a global leader in the research and manufacturing of lithium-ion batteries. The company focuses on the research, production, and sales of power battery systems and energy storage systems for new energy vehicles, and is committed to providing world-class solutions for global new energy applications. Its core technologies include the entire industry chain research and manufacturing capabilities in the fields of power and energy storage batteries, materials, cells, battery systems, and battery recycling and reuse. In 2017, the company's power lithium battery shipments led the world, reaching 11.84 GWh. It has established cooperative relationships with many mainstream domestic automobile companies and has successfully occupied steady market share in the global market, as one of the first domestic lithium-ion power battery manufacturers to enter the supply chain of top international automobile companies.

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) is a leader in the research, development, and manufacturing of all-electric personal transportation and utility vehicles. Headquartered in Jinhua, China, the Company's primary focus is on off-road mobility solutions, with a strategic emphasis for the North American market, while actively pursuing opportunities in other related emerging high-tech areas. Through its subsidiaries, Kandi Technologies leverages its robust manufacturing capabilities and technological expertise to deliver innovative products for a wide range of commercial and consumer applications.

For more information, please visit ir.kandigroup.com.

Safe Harbor Statement

This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes", "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements.

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