First Batch Order Marks China Battery Exchange's Entry into Commercial Deployment Under CATL Partnership

Jinhua, China, July 20, 2026 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (“Kandi” or the “Company”) (NASDAQ GS: KNDI), a global innovator in intelligent equipment and a technology-driven platform company, today announced that its wholly-owned subsidiary, China Battery Exchange (Zhejiang) Technology Co., Ltd. (“China Battery Exchange”), has secured an equipment procurement order from QIJI Energy (as defined below), the heavy-truck battery swap brand under Contemporary Amperex Technology Co., Limited (“CATL”). Pursuant to the order agreement, China Battery Exchange will provide end-to-end services across eighteen heavy-truck battery swap stations, encompassing equipment manufacturing, delivery, site deployment, and after-sales maintenance.

China Battery Exchange secured its first heavy-truck battery swap station equipment order from CATL in August 2025 under a Framework Procurement Agreement. Building on that foundation, China Battery Exchange entered into a three-year strategic cooperation agreement in January 2026 with Times QIJI Green Energy Technology (Shenzhen) Co., Ltd. ("QIJI Energy"), a CATL subsidiary dedicated to chassis-based battery swapping for heavy-duty trucks, formally establishing China Battery Exchange as a designated equipment supplier for CATL’s heavy-truck battery swap station program. This eighteen-station order marks the first batch procurement under the January 2026 agreement, a significant commercial milestone signaling China Battery Exchange’s substantive partnership with CATL has transited from pilot phase into active commercial operations, which reaffirms its credentials across product quality, manufacturing, and deployment.

This batch order is placed as part of CATL’s “Ten Thousand Station Plan,” under which QIJI Energy is targeting the completion of approximately 900 heavy-truck battery swap stations by year-end 2026. As a core equipment supplier supporting that rollout, China Battery Exchange points to a strengthening order pipeline ahead. The Company will provide updates on project progress and order execution as developments warrant.

Feng Chen, CEO of Kandi, commented, “This batch order speaks to the depth and momentum of our growing partnership with CATL, and validates our strengths across product technology, quality assurance, and delivery execution. We have proactively ramped up our production capacity in anticipation of growing demand and are fully prepared to deliver on schedule and to specification. As battery swap infrastructure investment accelerates across China, our established position within CATL’s supplier ecosystem gives us both the platform and the conviction to actively pursue the growth opportunities this market presents.”

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About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (NASDAQ: KNDI) is a global innovator in intelligent equipment and a technology-driven platform company. It leverages technological innovation, a global supply chain, and advanced manufacturing to transform industries and expand real-world applications, bringing technology closer to people’s everyday lives. Guided by a “one core, two growth engines” strategic framework, the Company anchors its business in all-domain intelligent vehicles, with battery swapping equipment and intelligent robotics as two strategic growth pillars. Driven by its mission to bring joy to daily life, Kandi Technologies fosters shared success and sustainable, long-term growth through open collaboration and mutually beneficial partnerships, creating enduring industrial and societal value while building a globally respected brand.

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

For investor and media inquiries, please contact:

Kandi Technologies Group, Inc.
Kewa Luo
Tel: +1 (212) 551-3610
Email: IR@kandigroup.com

Piacente Financial Communications
Brandi Piacente
Tel: +86-10-6508-0677
Email: Kandi@thepiacentegroup.com