Company overview
Kandi Technology Group, Inc. is a Chinese manufacturer of batteries and electric vehicles. Founded in 2002, the company initially focused on developing and producing electric vehicles for the Chinese market. In 2013, Kandi formed a joint venture with Shanghai Maple, a subsidiary of Geely, to produce electric vehicles in mainland China. In 2016, Geely sold its stake in the joint venture. Kandi has expanded into the United States, receiving approval for exports and establishing sales operations in Texas. The company’s product line includes compact electric vehicles, utility terrain vehicles, and golf carts. As of 2023, Kandi reported a net revenue of $123.6 million and a net profit of $1.7 million, following a period of losses in 2022. In July 2024, Kandi partnered with Lowe’s to sell a limited-edition set of golf carts featuring NFL team designs.
