CEO of country’s most affordable electric vehicle brand joins Wall Street veteran for illuminating ‘fireside’ chat, provides first look at the future of dealer showrooms
GARLAND, Texas–(BUSINESS WIRE)–$KNDI #autoevolutionforall—Kandi America, the U.S. subsidiary of Kandi Technologies Group Inc. (NASDAQ GS: KNDI), an international automotive manufacturer, discussed the company’s U.S. market entrance strategy during a September 29 fireside chat research series hosted by Water Tower Research, a premier issuer-sponsored equity research and investor intelligence platform.
Kandi America CEO Johnny Tai joined Shawn Severson, Co-Founder and President of Water Tower Research, to elaborate on Kandi’s newly introduced electric vehicles (EVs), discuss the company’s mission to make EVs affordable for all, and detail how the company is building a sophisticated marketing and distribution network in the United States.
“Water Tower Research is known on Wall Street as a strong ally to investors, offering insights on the key strategies and outlooks in the industries and companies they cover,” said Tai. “We believe this conversation enabled us to more broadly share our vision of creating an Auto EVolution for all.”
During the chat, Tai unveiled a preview of Kandi America’s innovative micro hub showroom design. Requiring a minimum of only 2,000 square feet, the minimalistic showroom reflects the brand’s core values by infusing tech-savvy and environmentally-friendly elements throughout the design.
Featuring glass walls and long sight lines, Kandi’s open concept showroom is designed to showcase the company’s affordable EV models – the K23 and K27. A nod to the eco-friendly nature of electric vehicles, each showroom will include a “living wall” of greenery to both purify the air and provide sound insulation to create a more intimate shopping experience. Additionally, Kandi showrooms will feature two interactive kiosks to increase the efficiency of the sales process.
“The look and feel of a Kandi America showroom will catch the public off-guard,” said Tai. “Our futuristic showroom design represents the next generation of car dealerships – where less is more and the space embodies the brand’s look and feel. Most importantly, a showroom that allows technology to guide the process, leaving more time for the talented sales team to focus on what they do best – closing the deal.”
While many traditional dealer partners require a significant amount of showroom space, overhead and inventory, Kandi America’s innovative micro hub model takes a slimmer approach by only requiring space for one of each of its EV models and a service area, allowing inventory to be housed off-site. This departure from the traditional dealer partner model is designed to increase profit margins for dealerships by minimizing overhead costs and streamlining the customer acquisition process.
“It’s clear that the marketplace is hungry for a new spin on the traditional dealership model,” said Brandon Ballard, Director of Business Development for Kandi America. “Not only have we experienced a surge in inquiries from interested dealers since unveiling the micro hub concept earlier this month, consumer demand remains strong as we continue to see the number of preorders rise on a daily basis.”
In collaboration with its dealer partners, Kandi America will also offer an auto-replenishment program to save space on the allocated inventory of each model, as well as a no-haggle pricing policy for consumers that simplifies the buying experience and builds trust between the manufacturer, dealership and customer. Kandi America is currently preparing to begin fulfillment and distribution plans in late Q4 2020.
To view the recording of the online event entitled “A Conversation with Chinese EV Leader Kandi on its Entry into the U.S. Market,” visit https://globalmeet.webcasts.com/starthere.jsp?ei=1375492&tp_key=2aafae1d4a.
To learn more and place a pre-order with a $100 fully refundable deposit, visit Drive.KandiAmerica.com.
Prospective dealers looking to gain additional information on how to become a Kandi America partner, including a pricing sheet which details manufacturer incentives, can visit http://dealer.kandiamerica.com.
About Kandi America
SC Autosports, LLC is the U.S. subsidiary of Kandi Technologies Group, Inc. (NASDAQ GS:KNDI), doing business under the name “Kandi America.” Headquartered in Garland, Texas, Kandi America is primarily engaged in the wholesale of off-road vehicle products and distribution of electric vehicles. Since 2008, Kandi Technologies has been publicly traded on the Nasdaq Stock Exchange under the symbol KNDI. Kandi Technologies acquired SC Autosports in 2018 to be its exclusive U.S. distributor. For more information, visit www.KandiAmerica.com.
About Water Tower Research
The mission of Water Tower Research is to bridge the information gap between companies and investors, while reaching a much broader and diverse group of investors in comparison to the traditional and challenged equity research model. WTR provides “Research for the Other 99%®” on a platform powered by Wall Street veterans who are knowledgeable and experienced. WTR analysts help investors to understand key strategies, industries, technologies, and drivers impacting companies under coverage, as well as their peers. Water Tower Research uses a broad portfolio of tools to communicate with investors, including a traditional research platform, as well as innovative and proactive products and digital strategies, thus providing valuable and consistent information flow.
Safe Harbor Statement
This press release contains certain statements that may include “forward-looking statements.” All statements other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on the SEC’s website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements.
Contacts
Media Contact:
Allison Burum / Beth Rose
aburum@piercom.com / brose@piercom.com
214-392-5545 / 214-683-3745
