Kandi Technologies, Hartford Industrial sign formal partnership

Kandi Technologies Group has entered into a formal Partnership Agreement with Hartford Industrial Co.. The Agreement, signed on August 6, 2024, aims to leverage advanced industrial capabilities and a robust supply network in Asia, and access to a broad consumer market in the U.S. Through this partnership, Kandi and Hartford Industrial will combine their resources, complement each other’s strengths, promote technological exchange, and further enhance product quality to improve competitiveness. Key elements of the Agreement include: Kandi will authorize Hartford Industrial to manufacture off-road vehicles-including UTVs, golf carts, and low-speed vehicles-destined for the U.S. market. Hartford Industrial will ensure that production meets all necessary manufacturing standards, regulatory requirements, and local content thresholds for both U.S. export and production in Taiwan. All production-related costs incurred by Hartford Industrial will be settled based on the actual expenses per production batch. The terms under which Hartford Industrial will procure complete vehicles or components from Kandi will be clearly defined in the respective procurement contracts. During the term of this Agreement, both parties have agreed to terms that protect the integrity and exclusivity of the partnership. The Agreement is initially valid for three years. If both parties wish to continue the partnership after the initial term, the Agreement will be automatically renewed.