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Exhibit 99.1 Kandi Technologies Reports Third Quarter 2021 Financial Results --Revenue ~ $ 17 million -- --Working Capital of ~ $ 289 million , cash¹ balance $ 211 million- -- Sales into e - Scooter - related markets surge nearly 600 % -- JINHUA , CHINA-- ( November 9 , 2021 ) - Kandi Technologies Group , Inc. ( the " Company , ” “ we ” or “ Kandi ” ) ( NASDAQ GS : KNDI ) , today announced financial results for the third quarter of 2021 . Third Quarter Highlights Total revenues decreased by 10.3 % to $ 16.8 million , from $ 18.7 million in the same period of 2020 . • • • • • EV parts sales were $ 3.2 million , compared to $ 8.4 million in the same period of 2020 . Off - road vehicles sales were $ 6.8 million , compared to $ 8.9 million in the same period of 2020 . Electric Scooters , Electric Self - Balancing Scooters and associated parts sales were $ 6.3 million , compared to $ 0.9 million in the same period of 2020 . Battery exchange equipment and battery exchange service sales were $ 0.2 million . This new business had no revenue in the same period of 2020 . Gross margin was 16.4 % , compared to 20.9 % for the same period of 2020 . • Net loss was $ 7.9 million , or ( $ 0.10 ) per fully diluted share due to decreased sales and increased investment in R & D , compared to net loss of $ 1.5 million , or ( $ 0.03 ) per fully diluted share for the same period of 2020 . As of September 30 , 2021 , working capital was $ 289.4 million . Cash , cash equivalents , restricted cash , and a certificate of deposit totaled $ 211.0 million . Hu Xiaoming , Chairman and CEO of Kandi commented : “ Sales are surging in the segment of e - Scooters , electric self - balancing scooters and associated parts sales . With explosive growth again this quarter , we are increasingly confident that our traction in this market can continue . Our strategic entry into this market last year represents a great success in identifying and developing intelligent transportation products to counteract the impact to EV market demand caused by the COVID - 19 outbreak in 2020. We expect the EV - related business recovery to take time . Our restructuring of this business segment resulted in lower sales of EV products and parts . " ¹ Includes cash , cash equivalents , restricted cash , and certificate of deposit .