JINHUA, China, July 01, 2026 (GLOBE NEWSWIRE) — Kandi Technologies Group, Inc. (the “Company” or “Kandi”) (NASDAQ GS: KNDI), a global innovator in intelligent equipment and a technology-driven platform company, today announced that Hangzhou Xinchu New Energy Technology Co., Ltd. (“Xinchu”), which the Company has contracted to acquire 51% of the equity interests, has been named an authorized distributor by Schneider Electric IT (China) Co., Ltd. (“Schneider Electric”) for fiscal year 2026. The authorization enables Xinchu to distribute and support Schneider Electric’s APC, MGE, and Schneider-branded portfolio, including uninterruptible power supply (UPS) systems, cooling infrastructure, racks and cabinets, software, and related technical services. It also strengthens Xinchu’s ability to deliver integrated power infrastructure solutions for data centers, telecommunications base stations, and energy storage systems.
This authorization also strengthens Kandi’s position in the AI data center (AIDC) backup power and energy storage market by improving its access to products and supply chain resources that support data center energy infrastructure solutions. The Company believes the authorization represents an important milestone in expanding its upstream hardware capabilities and strengthening its supply chain foundation for its AIDC power and energy storage business.
Schneider Electric is a global leader in energy management and automation, offering a broad portfolio of data center infrastructure solutions, including UPS systems, power management, and physical infrastructure products. This authorized distributor designation enhances Xinchu’s ability to participate in data center and telecommunications base station energy infrastructure projects. By combining Schneider Electric’s proven UPS and data center infrastructure portfolio with Xinchu’s proprietary energy storage batteries and Battery Management System (BMS) technologies, Xinchu can offer a complementary portfolio of solutions, enabling it to provide integrated, one-stop power solutions for both backup power and energy storage applications. This is expected to further strengthen the Company’s competitive position in the AIDC market.
“As AI compute infrastructure continues to scale globally, the need for highly reliable backup power and energy storage solutions is becoming increasingly critical,” said Mr. Feng Chen, Chief Executive Officer of Kandi. “Being an authorized distributor of Schneider Electric marks an important milestone in advancing Xinchu’s capabilities in AIDC backup power and energy storage and further strengthens our ability to serve the data center energy infrastructure market. Looking ahead, we will continue to expand our presence in AIDC and broader new energy infrastructure applications, enhance our end-to-end solution capabilities, and capitalize on the significant opportunities arising from the global buildout of AI infrastructure.”
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 global innovator in intelligent equipment and a technology-driven platform company. Headquartered in Jinhua, China, the Company’s primary focus is on intelligent mobility solutions, with an emphasis on the North American market, while actively pursuing opportunities in battery swap equipment, intelligent robotics and other 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. The Company routinely posts important updates on its website.
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
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