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Kandi offloads 21.47% stake in Kandi Electric Vehicles Group to Geely

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Upon the completion of the transfer, Kandi Vehicles shall own 22% equity interest of the JV company while Geely shall own 78%

Kandi Technologies has completed the transfer of 21.47% stake in Kandi Electric Vehicles Group, a joint venture (JV) owned by Geely Group and Zhejiang Kandi Vehicles, to Geely for a total amount of CNY516 million (USD 72.4 million), the company announced in a press release on 7 October.

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