Strengthening Battery Swap Infrastructure Deployment to Accelerate Scaled Implementation of Heavy-truck Battery Swapping

Jinhua, China, Jan. 29, 2026 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the "Company" or "Kandi Technologies") (NASDAQ GS: KNDI), a long renowned leader in all-electric personal transportation and utility vehicles, today announced that its wholly-owned subsidiary, China Battery Exchange (Zhejiang) Technology Co., Ltd. ("China Battery Exchange"), has entered into a three-year strategic cooperation agreement (the "Agreement") with Times Qiji Green Energy Technology (Shenzhen) Co., Ltd. ("Qiji Energy"), a subsidiary of Contemporary Amperex Technology Co., Ltd. ("CATL"), a global leader of new energy innovative technologies. Under the Agreement, the parties will engage in deep cooperation regarding the implementation of mass-production projects for heavy-truck battery swap stations, as well as related after-sales services and ongoing operations and maintenance support.

Pursuant to the Agreement, China Battery Exchange will serve as a strategic supplier to Qiji Energy. In this capacity, it will drive the solution layout, equipment selection, and manufacturing of mechanical and control systems for heavy-truck battery swap stations. In addition, China Battery Exchange will provide integrated delivery and after-sales services throughout the equipment warranty period, including spare parts support, maintenance, servicing, training, trial operations, and other end-to-end delivery and support services. Previously, China Battery Exchange successfully entered CATL's global supplier ecosystem. This latest cooperation further validates China Battery Exchange's technical strength and mass-production assurance capabilities, while marking Kandi Technologies' deeper integration into CATL's battery swapping ecosystem.

Construction is currently underway at a China Battery Exchange heavy-truck battery swap site

As a key component of CATL's "Ten Thousand Station Plan," Qiji Energy is actively advancing the standardized and scalable deployment of the "Qiji Battery Swap" network, with a target of approximately 900 battery swap stations by 2026. This cooperation positions China Battery Exchange with a key role to support CATL's plan. By combining CATL's leading advantages in brand recognition, battery technology, network reach, and station management platforms with China Battery Exchange's expertise in R&D and manufacturing of battery swap equipment, the two parties are able to share resource and complement advantages to jointly promote the efficient, large-scale implementation of battery swap infrastructure.

Mr. Feng Chen, CEO of Kandi Technologies, commented: "This strategic cooperation with the subsidiary of CATL represents another important milestone in the development of our battery swapping business. As Kandi Technologies' core platform for battery swap solutions, China Battery Exchange has been focusing on innovation and practical application of battery swapping models for pure electric vehicles, dedicated to delivering comprehensive intelligent battery swap solutions on a unified platform that supports multiple brands and vehicle models. This cooperation allows us to fully leverage our accumulated technical expertise and project experience in this field alongside an industry-leading partner, synergistically advancing battery swap infrastructure toward greater standardization, scalability, and sustainable operations. We believe the battery swapping model possesses long-term potential in improving charging efficiency, enhancing user experience, and supporting the construction of a new energy transportation ecosystem. This collaboration further expands the Company's growth potential within the new energy value chain and lays a solid foundation for the continued advancement of our business."

As one of the earlier entrants into battery swapping technology in China, Kandi Technologies has consistently viewed battery swapping as a key component of its long-term strategic development. Through this strategic cooperation, the Company expects to further strengthen its comprehensive service capabilities in new energy infrastructure and support the continued expansion and commercialization of its battery swapping initiatives.

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.

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) is a leader in the research, development, and manufacturing of all-electric personal transportation and utility vehicles. Headquartered in Jinhua, China, the Company's primary focus is on off-road mobility solutions, with a strategic emphasis for the North American market, while actively pursuing opportunities in other related emerging high-tech areas. Through its subsidiaries, Kandi Technologies leverages its robust manufacturing capabilities and technological expertise to deliver innovative products for a wide range of commercial and consumer applications.

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

Kandi Technologies Enters into Strategic Cooperation with Qiji Energy, a Subsidiary of CATL