{"version":"1.0","provider_name":"Market Newsdesk","provider_url":"https:\/\/www.marketnewsdesk.com","author_name":"Newsdesk","author_url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/","title":"Kandi Technologies Exits Geely Affiliation - Market Newsdesk","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"32JhSfB4Bk\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kandi-technologies-exits-geely-affiliation\/\">Kandi Technologies Exits Geely Affiliation<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/www.marketnewsdesk.com\/index.php\/kandi-technologies-exits-geely-affiliation\/embed\/#?secret=32JhSfB4Bk\" width=\"600\" height=\"338\" title=\"&#8220;Kandi Technologies Exits Geely Affiliation&#8221; &#8212; Market Newsdesk\" data-secret=\"32JhSfB4Bk\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script>\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/\/# sourceURL=https:\/\/www.marketnewsdesk.com\/wp-includes\/js\/wp-embed.min.js\n<\/script>\n","description":"Jinhua, China, March 15, 2021 (GLOBE NEWSWIRE) &#8212; Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the \u201cCompany\u201d or \u201cKandi\u201d) announced today that it exited its position in Fengsheng Automotive Technologies Group Co., Ltd (the \u201cAffiliate Company\u201d or \u201cFengsheng\u201d). To formalize the exit, Kandi\u2019s wholly owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (&#8220;Kandi Vehicles&#8221;) completed an Equity Transfer Agreement (the \u201cTransfer Agreement\u201d) with Geely, in which Kandi\u2019s 22% equity interest in Fengsheng was transferred to Geely in exchange for RMB 308 million (approximately $47.3 million) in cash. Zhejiang Provincial Administration for Market Regulation recorded the update of the ownership of Fengsheng on March 9, 2021. Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi, commented, \u201cSince Geely took control of &hellip; Continue reading \"\"","thumbnail_url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4OTgzNiM0MDYzNzAyIzUwMDA2OTkzNw=="}