Sam Boughedda

Investing.com — Kandi Technologies Group Inc, NASDAQ:), announced that it has signed a framework deal with Hunan Hengrun Automobile Co in order to produce pure-electric vehicles powered by a battery-swap.

On Monday, Jinhua in China told investors that both companies would produce pure battery-swappable electric vehicles and sell them under the brand “Henghe”.

The news follows Kandi’s announcement at the end of December that its subsidiary Jiangxi Province Huiyi New Energy has begun “mass production of its lithium iron phosphate (‘LFP’) battery.”

Hengrun’s expertise is in automobile parts, research, design, production, after-sales, service, and sales. Kandi states that Hengrun has been certified to make passenger cars as well as commercial vehicles including electric vehicles.

Hu Xiaoming, chairman of the Board of Directors of Kandi, said: “We are a pioneer of EV battery swapping in China. We have an advantage because of our extensive experience building electric vehicles and the dozens of patents that cover battery swapping. 

“By utilizing our battery swap expertise and Hengrun’s vehicle production expertise, together we expect to create meaningful new benefits for customers and thus promote the development of the China’s EV industry.”