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China: Kandi details Hangzhou EV supply contract

In mid-August the Chinese EV and ATV maker Kandi Technologies announced that its subsidiary, Jinhua Kandi New Energy Vehicles, had signed a letter of intent with Zhejiang Zotye Holding Group to cooperate to supply 20,000 EVS for Hangzhou residents in collaboration with the Zhejiang provincial and Hangzhou municipal governments. Now Kandi’s and Zotye’s jointly-developed JNJ6290EV has been … Continued

In mid-August the Chinese EV and ATV maker Kandi Technologies announced that its subsidiary, Jinhua Kandi New Energy Vehicles, had signed a letter of intent with Zhejiang Zotye Holding Group to cooperate to supply 20,000 EVS for Hangzhou residents in collaboration with the Zhejiang provincial and Hangzhou municipal governments.

Now Kandi’s and Zotye’s jointly-developed JNJ6290EV has been approved for subsidies by the Chinese Ministry of Industry and Information Technology (MIIT), paving the way for the joint venture to start the previously announced 20,000-EV leasing programme to be launched in Hangzhou City. Zhejiang Kandi Vehicles and the China Aviation Lithium Battery (Hangzhou) Co have signed a sales contract for an initial batch of 5,000 vehicles.

China Aviation Lithium Battery has established a wholly-owned subsidiary, China Aviation Lithium Battery (Hangzhou), which will be responsible for the operation of the Hangzhou project, including the provision of traction batteries.

CALB Hangzhou is to purchase 5,000 JNJ6290EV vehicles (without batteries) from Kandi Vehicles for a total purchase price of RMB199,000,000 (US$31.58m). The car’s unit price without battery is RMB39,800 (US$6,317). All these vehicles are to be delivered by the end of December.

Kandi Vehicles is contracted to ensure that the EVs meet all the technical requirements for existing and future battery charging/exchanging infrastructures, including Quick Battery Exchange (QBE) stations currently under construction by the State Grid Corporation of China, and has undertaken to provide training and aftersales service and maintenance for the Hangzhou programme.

Xiaoming Hu, Chairman and Chief Executive Officer of the US-listed Kandi Technologies, commented, “Kandi is very proud to be a part of what is so far the largest pure EV commercialisation programme to be launched by our partners. Additionally, it is noteworthy that Kandi received a 3,000 pure EV order in Jinhua City last year. Kandi is on its way to become one of the leading pure EV providers in China.”

The specification of the NJ6290EV has not been released, but reports mention a top speed of about 25mph. Kandi’s 2.9m-long two-seat neighbourhood EV weighs 960kg, has a maximum speed of 72km/h (45mph) and a range of around 100 miles with a 3.2V 22AH lithium-ion battery driving the rear wheels.

 

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