Kandi Technologies

Kandi owns a 50% stake in Fengsheng Automotive Technology Group, a joint venture formed with Geely Technology Group, a subsidiary of Zhejiang Geely Holding Group. The JV manufactures electric vehicles for the Chinese market, including the K23, K27, and EX3 models, using Geely's vehicle platforms and Kandi's manufacturing capacity in Zhejiang province (per Kandi SEC filings, 2022).

Yes. Kandi's legacy off-road vehicle segment sells ATVs, UTVs, and go-karts to independent dealers in the United States. This division has historically contributed a meaningful minority share of consolidated revenue, providing dollar-denominated cash flows that operate alongside the China-domestic EV business.

Through the Fengsheng JV, Kandi offers the subcompact K23, the K27, and the compact crossover EX3 for fleet and retail buyers in China. The EX3 rides on a Geely platform and represents the highest-AER (all-electric range) vehicle in Kandi's line. The off-road division produces smaller powersports vehicles under various private-label agreements for US distribution.

Kandi functions primarily as a holding company with two major operating subsidiaries. One holds the equity interest in the Geely JV for EV production; the other manages design, manufacturing, and export of powersports vehicles from China to the US market. The parent company provides strategic direction and consolidated financing.

Kandi's American depositary shares began trading on the NASDAQ Global Market in July 2012 after the company completed a reverse merger and initial public offering. It remains one of the few China-headquartered EV manufacturers listed directly on a major US exchange following the 2021–2023 wave of de-listings and regulatory disputes.