Attached files
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| EX-99.1 - Kandi Technologies Group, Inc. | v198714_ex99-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
____________________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): October 5, 2010
KANDI
TECHNOLOGIES, CORP.
(Exact
name of registrant as specified in its charter)
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Delaware
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001-33997
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90-0363723
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(State
or other jurisdiction
of
incorporation)
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(Commission
File Number)
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(IRS
Employer Identification
No.)
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Jinhua
City Industrial Zone
Jinhua,
Zhejiang Province
People’s
Republic of China
Post Code
321016
(Address
of principal executive offices) (Zip Code)
(86 -
0579) 82239856
Registrant’s
telephone number, including area code
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction
A.2. below):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item 1.01 Entry into a
Material Definitive Agreement
On September 28, 2010, Kandi
Technologies, Corp. (the “Company”) entered into a joint venture agreement (the
“Agreement”) with Tianneng Power International, Ltd., a battery manufacturer
(“Tianneng”), and Jinhua Bada Group, a subsidiary of State Grid Power
Corporation, China’s largest power company (“Bada Group”), in order to create an
electric vehicle battery rental and replacement services company, which will
provide battery changing stations for the Company’s electric vehicle
purchasers. The Company will own 30% of the new company; Tinneng will
own 30%, and Bada Group will own 40%.
Prior to the date of the Agreement,
there were no material relationships between the Company or any of its
affiliates and Tianneng and Bada Group.
Item 7.01 Regulation FD
Disclosure
On October 5, 2010, the Company issued
a press release announcing the joint venture with Tianneng and Bada
Group. A copy of the press release is attached hereto as Exhibit
99.1.
Reference is made to Exhibit 99.1 for a
discussion of certain forward-looking statements included therein. These
“forward-looking statements,” are based on management’s beliefs, as well as on a
number of assumptions concerning future events and information currently
available to management. Readers are cautioned not to put undue reliance on such
forward-looking statements, which are not a guarantee of performance and are
subject to a number of uncertainties and other factors, many of which are
outside the Company’s control that could cause actual results to differ
materially from such statements. For a more detailed description of the factors
that could cause such a difference, please see the Company’s filings with the
Securities and Exchange Commission.
The Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
The information contained in this
Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall
not be deemed to be “filed” for the purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to
the liabilities of that Section, nor shall it be incorporated by reference into
a filing under the Securities Act of 1933, or the Exchange Act, except as shall
be expressly set forth by specific reference in such a filing.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits
99.1 Press
Release of Kandi Technologies, Corp., dated October 5, 2010.
SIGNATURE
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
Dated: October
11, 2010
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KANDI
TECHNOLOGIES, CORP.
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By:
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/s/ Hu
Xiaoming
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Name:
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Hu
Xiaoming
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Title:
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President
and Chief Executive Officer
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