Lin'an facility supports scaled production of battery swap equipment for heavy-duty trucks
JINHUA, China, July 15, 2026 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. ("Kandi Technologies" or the "Company") (NASDAQ: KNDI), a global innovator in intelligent equipment and a technology-driven platform company, today announced that its wholly-owned subsidiary, China Battery Exchange (Zhejiang) Technology Co., Ltd. ("China Battery Exchange"), has begun production at its battery swap equipment manufacturing base in Lin'an. The commencement of production marks a milestone in the Company's efforts to advance the scaled and standardized manufacturing of battery swap equipment and positions the Company to support the continued development of China's heavy-duty truck battery swap infrastructure.
Kandi Technologies has been active in China's battery swap equipment industry and has made sustained investments in battery swap technology. Its China Battery Exchange team has developed proprietary intelligent battery swap equipment protected by multiple core patents, enabling a full battery swap in as little as 90 seconds. The team previously qualified as a supplier within CATL's global supplier system. In January 2026, Kandi Technologies and CATL's QIJI Energy entered into a three-year strategic cooperation agreement covering the mass production of battery swap stations for heavy-duty trucks, as well as related after-sales and maintenance services. The cooperation supports CATL's "10,000 Stations Plan," under which QIJI Energy aims to complete approximately 900 heavy-truck battery swap stations by the end of 2026.
At full capacity, the Lin'an facility is expected to have an annual production capacity of up to 200 battery swap stations, supporting future deliveries to CATL's QIJI Energy and other strategic partners and strengthening the Company's capabilities in battery swap equipment research and development, scaled production and integrated solutions.
The facility's launch comes as Chinese authorities continue to advance policy support for new energy heavy-duty trucks under China's Dual Carbon strategy. On July 10, 2026, the National Energy Administration released the Energy Sector Energy Conservation and Carbon Reduction Action Plan (2026–2028), which calls for the accelerated adoption of new energy heavy-duty trucks and expanded high-power charging and battery swap networks along expressways. This follows an earlier implementation plan jointly issued by the Ministry of Transport, the National Development and Reform Commission, the Ministry of Industry and Information Technology and eight other central government authorities, which targets 40% penetration for new energy heavy-duty trucks in new vehicle sales and a total fleet of more than 1.6 million new energy heavy-duty trucks by 2030, supported by approximately 3,000 dedicated charging and battery swap stations nationwide.