Kandi Technologies Group Inc

Kandi Technologies Group has begun production at its wholly-owned subsidiary China Battery Exchange’s battery swap equipment manufacturing base in Lin’an, China. The facility supports scaled production of battery swap stations for heavy-duty trucks and is expected to reach an annual capacity of up to 200 stations at full output. The launch follows a three-year strategic cooperation agreement signed in January 2026 with CATL’s QIJI Energy covering mass production of heavy-duty truck battery swap stations under CATL’s “10,000 Stations Plan,” which targets roughly 900 heavy-truck stations by end-2026. Kandi’s proprietary equipment enables a full battery swap in as little as 90 seconds and has previously qualified as a supplier within CATL’s global supplier system. The production start aligns with recent Chinese policy support, including a July 10, 2026 National Energy Administration action plan calling for accelerated adoption of new energy heavy-duty trucks and expanded battery swap networks.

Kandi Technologies’ subsidiary Kandi Hainan has signed an exclusive five-year strategic cooperation agreement with Zhejiang Greentown Community Business Group to deploy electric sightseeing vehicles across residential communities in China. The partnership aims to build a community-focused new energy mobility ecosystem by combining Kandi Hainan’s low-speed electric vehicles and intelligent dispatching systems with Greentown’s property management expertise. The companies will jointly develop an integrated product, operation, and service solution to enhance user experience and profitability. Kandi expects the collaboration to expand its domestic off-road electric vehicle business, improve revenue mix, and generate sustainable cash flow.

Kandi Technologies announced that Hangzhou Xinchu New Energy Technology, in which Kandi has contracted to acquire a 51% stake, has been named an authorized distributor by Schneider Electric IT (China) for fiscal year 2026. The authorization allows Xinchu to distribute and support Schneider Electric’s APC, MGE, and Schneider-branded portfolio, including uninterruptible power supply systems, cooling infrastructure, racks, software, and related technical services. This strengthens Xinchu’s ability to deliver integrated power infrastructure solutions for data centers, telecommunications base stations, and energy storage systems. Kandi believes the move enhances its position in the AI data center backup power and energy storage market by improving access to products and supply chain resources. CEO Feng Chen stated that the authorization marks an important milestone in advancing Xinchu’s capabilities and strengthening Kandi’s ability to serve the data center energy infrastructure market.

Kandi Technologies Group has agreed to acquire a 51% controlling stake in Hangzhou Xinchu New Energy Technology for a cash consideration of RMB20 million, or approximately $2.9 million. The deal, expected to close in July 2026, marks Kandi's strategic expansion into the global AI data center backup power and energy storage market. Xinchu specializes in UPS lithium battery packs, high-rate backup power cabinets with 6C discharge and millisecond-level response, proprietary battery management systems, and an intelligent BMS platform. Kandi plans to support Xinchu's growth through targeted capital allocation for product development and market expansion, while Xinchu is expected to leverage Kandi's global supply chain to enhance procurement efficiency and support cost optimization.