First Batch Order Marks China Battery Exchange&#39;s Entry into Commercial Deployment Under CATL Partnership  Jinhua, China, July  20, 2026  (GLOBE NEWSWIRE) --  Kandi Technologies Group, Inc. (&#34;Kandi&#34; or the

KNDI

Kandi Technologies Subsidiary Secures Order to Equip 18 CATL Heavy-Truck Battery Swap Stations

Kandi's China Battery Exchange Secures 18-Station Order Under CATL Partnership

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>First Batch Order Marks China Battery Exchange&amp;#39;s Entry into Commercial Deployment Under CATL Partnership  Jinhua, China, July  20, 2026  (GLOBE NEWSWIRE) --  Kandi Technologies Group, Inc. (&amp;#34;Kandi&amp;#34; or the</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Kandi&#039;s China Battery Exchange secured an 18-station heavy-truck battery swap equipment order from QIJI Energy, CATL&#039;s subsidiary. The project advances from pilot to active commercial deployment under CATL&#039;s Ten Thousand Station Plan, with 900 stations target by end-2026. CEO Feng Chen framed the deal as evidence of momentum and ramped production to capitalize on China&#039;s battery-swapping push.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Kandi&#039;s China Battery Exchange wins 18-station heavy-truck order. From CATL unit QIJI Energy.</li><li>First batch under Jan 2026 with Times QIJI Green Energy. A CATL subsidiary.</li><li>Part of CATL&#039;s Ten Thousand Station Plan; 900 stations by 2026.</li><li>CEO Feng Chen cites momentum; production ramp-up to meet demand.</li><li>Company notes ongoing, strengthening order pipeline for CATL partnership.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Kandi Technologies Group, Inc. (KNDI)</strong>: Parent company; China Battery Exchange orders broaden CATL collaboration and potential revenue.</li><li><strong>Contemporary Amperex Technology Co. Limited (CATL)</strong>: Strategic partner enabling large-scale heavy-truck battery-swapping deployment.</li><li><strong>QIJI Energy (N/A)</strong>: CATL subsidiary; customer for the 18-station order, linking to CATL ecosystem.</li><li><strong>Times QIJI Green Energy Technology (Shenzhen) Co., Ltd. (N/A)</strong>: CATL subsidiary; 3-year cooperation with China Battery Exchange.</li><li><strong>China Battery Exchange (Zhejiang) Technology Co., Ltd. (N/A)</strong>: Kandi subsidiary executing equipment orders and deployments.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Corporate Developments: demonstrates deeper CATL collaboration and tangible order progress, signaling near-term revenue visibility and strategic growth for KNDI&#039;s battery-swapping ecosystem.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>18-station order expands CATL-linked deployment for Kandi.</li><li>CATL&#039;s plan targets 900 stations by end-2026, boosting tailwinds.</li><li>Stronger order pipeline from China Battery Exchange signals revenue visibility.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Order covers 18 heavy-truck battery swap stations.</li><li>Customer: QIJI Energy, CATL subsidiary.</li><li>First CATL order for Kandi&#039;s battery swap unit: Aug 2025.</li><li>Jan 2026: 3-year cooperative agreement with Times QIJI Green Energy.</li><li>Ten Thousand Station Plan targets 900 stations by 2026 end.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish over 6–12 months as CATL rollout accelerates and China Battery Exchange secures larger orders.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="center"><i>First Batch Order Marks China Battery Exchange&#39;s Entry into Commercial Deployment Under CATL Partnership</i></p>  <p align="justify"><strong>Jinhua, China, July  20, 2026  (GLOBE NEWSWIRE) -- </strong> 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.</p>  <p align="justify">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. (&#34;QIJI Energy&#34;), 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.</p>  <p align="justify">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.</p>  <p align="justify">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."</p>  <p align="justify"><b>Safe Harbor Statement</b></p>  <p align="justify">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 (<a href="https://www.globenewswire.com/Tracker?data=JELDHtLR9Y8juRCd2VgoLPuv6C872QYf1OM28tTaQJ_xhhEWOz4qxZMFWGtLdCw19fEHNN_4aoeYGlsqBVuhVA==" rel="nofollow" target="_blank">http://www.sec.gov</a>). 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.</p>  <p align="justify"><strong>About Kandi Technologies Group, Inc.</strong></p>  <p align="justify">Kandi Technologies Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/KNDI">KNDI</a>) 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.</p>  <p align="justify">For more information, please visit <a href="https://www.globenewswire.com/Tracker?data=stx3pdyTtvqHnB95Wh8i_Z7nKw7EhvItFClzv4k98Zuogx3CRvVlk33UxF_Mqp7YJTOcvXqzgVsaYoiDDJDnJ6qcQfEZkR0oTwCtFW6IovE=" rel="nofollow" target="_blank">ir.kandigroup.com</a>.</p>  <p align="justify"><strong>For investor and media inquiries, please contact:</strong></p>  <p align="justify">Kandi Technologies Group, Inc.<br></br>Kewa Luo<br></br>Tel: +1 (212) 551-3610<br></br>Email: <a href="https://www.globenewswire.com/Tracker?data=r0sCzZ97EVeyCf-7gX9bRsG77qjKDx8xP8FNq01LjdbgIctCArnLTeXUzv-4w_wKkULDhuKsEOv7pWVv0ehIwOISNp3hhAKbh2wCvcr0Cp0=" rel="nofollow" target="_blank">IR@kandigroup.com</a></p>  <p align="justify">Piacente Financial Communications<br></br>Brandi Piacente<br></br>Tel: +86-10-6508-0677<br></br>Email: <a href="https://www.globenewswire.com/Tracker?data=q0GiNyVtKK4WwCo_GN5yk3IHez0e6m0Wpu9DB50lyqp_OxKC-NvIkcLiJOh52tUTXllxEKGV1R0ki5-z_4gH1eoBz3bvUKQ14hwPwqISichECIxjEWynrtykf_6L9txE" rel="nofollow" target="_blank">Kandi@thepiacentegroup.com</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTc2NDU1MiM3NzEyOTcwIzUwMDA2OTkzNw=="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/ODFjZWRlM2ItMmNmMC00ZTY5LWJjYzUtMjJmMTczNTEyZjFhLTUwMDA2OTkzNy0yMDI2LTA3LTIwLWVu/tiny/Kandi-Technologies-Group-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img>

Kandi's China Battery Exchange secured an 18-station heavy-truck battery swap equipment order from QIJI Energy, CATL's subsidiary. The project advances from pilot to active commercial deployment under CATL's Ten Thousand Station Plan, with 900 stations target by end-2026. CEO Feng Chen framed the deal as evidence of momentum and ramped production to capitalize on China's battery-swapping push.

Kandi Technologies Subsidiary Secures Order to Equip 18 CATL Heavy-Truck Battery Swap Stations

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Market-Moving

Key Facts

Companies Mentioned

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