The company has received funding from the State Grid Corporation of China (SGCC), an electric power transmission and distribution company, for construction of the project, which is expected to be completed by the end of this year.
The batteries, which will power Kandi EVs, will be replaced, serviced and maintained by a new service company operated by Kandi, SGCC, and other companies including China National Offshore Oil and Tianneng Power International with whom, Kandi forged an alliance to facilitate wide scale adoption of EVs in China.
The establishment of a network of battery charging stations and service centers is a part of Kandi’s new business model to eliminate the driving mileage restriction of EVs, while the battery service centers will provide recycling and reusing depleted waste batteries, thereby reducing potential pollution caused by used battery waste.
As per new business model, the company plans to use Jinhua as a testing center to roll out 3,000 commercialized EVs. Buyers of Kandi EVs will receive local municipal and provincial government subsidies of up to 50% of the purchase cost.
Hu Xiaoming, chairman and CEO of Kandi, said: “As this new model being implemented in Jinhua begins to be reproduced and modified in other cities and regions throughout China, the operating boundaries of EVs will continue to be expanded and prolonged.”
