 JINHUA, CHINA, July 19, 2021 GLOBE NEWSWIRE -- Kandi Technologies Group, Inc. the Company, we or Kandi NASDAQ GS: KNDI, today announced the expansion of its battery cell business with the acquisition of a leading cell producer in Jiangxi Province, China. Kandi is a leader in electric vehicles and associated parts, including the cell business of subsidiary Ankao and the intelligent battery exchange system, so this acquisition is a natural fit to its vertical integration strategy. The company to be acquired, Jiangxi Province Huiyi New Energy Co., Ltd. Jiangxi Huiyi, produces approximately 90 million 18650 lithium-ion rechargeable cells annually. The cells have a variety of applications, especially in consumer products. Kandi intends to further grow its cell business by using the newly acquired technology to address many new applications, eventually including EV battery packs. 