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Kandi Technologies Group (NASDAQ:KNDI) announced on Tuesday that the company’s next generation all-electric crossover models, have officially entered mass production at the Hainan facility.
The 1124 and 1124A models are set to be launched in the third quarter of this year. Kandi (KNDI) said its all-electric four-wheel crossover vehicle, crafted and manufactured at the Hainan facility, has garnered impressive sales since its introduction in 2022. Notably, the 1204 series was said to have accomplished significant triumphs in overseas markets, asserting its position as the premier imported product within the U.S. segment.
Kandi (KNDI) CEO Dr. Xueqin Dong said the two new models are projected to achieve an annual sales volume of over ten thousand units after launch.
“We believe that the 1124 series will become another flagship product for Kandi, joining the recently launched all-electric dual-motor four-wheel-drive UTV, thereby further elevating the Kandi brand and driving efficiency gains.”
The upcoming 1124 series is noted to incorporate an automotive-grade chassis, the latest lithium iron phosphate batteries, and optional solar panels. KNDI said those features provide not only enduring power, but also reduce energy consumption and emissions, thereby minimizing the need for frequent charging. The models are also equipped with advanced EPS electric power steering, automotive-grade three-point seat belts, a 10-inch intelligent central touchscreen, reverse camera, and additional storage space, all enhancing safety, travel efficiency, and the user experience.
Shares of Kandi Technologies (KNDI) fell 0.35% in early Tuesday morning trading. The EV stock is down almost 13% over the last six weeks.
