JINHUA, China, April 29, 2011 /PRNewswire/ -- Kandi Technologies, Corp. (Nasdaq: KNDI), a leading Chinese exporter of off-road vehicles and developer of pure electric vehicles (EV), today announced that, as of April 22, it has engaged a big four professional firm to review its internal controls in certain business cycles and provide recommendations.
As Kandi Technologies' growth continues to increase the complexity of the Company's management and compliance functions, the Company plans to leverage the extensive experience of this professional third-party in evaluating and developing enhanced compliance control frameworks and monitoring programs.
"We hope to bring in sophisticated, world-class consulting insight to Kandi's business," said Xiaoming Hu, CEO and Chairman of the Board of Kandi Technologies. "As our business continues to grow, Kandi will place greater emphasis on effective internal controls and corporate reporting strategies, which will also enhance the efficiency of our operations and improve management quality at all levels."
About Kandi Technologies, Corp.
Kandi Technologies, Corp. (Nasdaq: KNDI) is a manufacturer and exporter of a variety of vehicles in China, making it a world leader in the production of popular off-road vehicles (ORVs). It also ranks among the leading manufacturers in China of all-terrain vehicles (ATVs), specialized utility vehicles (UTVs), and a recently introduced second-generation high mileage, two-seat three-wheeled motorcycle. Another major company focus has been on the manufacture and sale of the COCO, a highly economical, beautifully designed, all-electric super mini-car for neighborhood driving and commuting. The convertible and hardtop models of the COCO electric vehicle (EV) are available in the United States and other countries, while the Chinese government has approved the sale of Kandi EVs in China since 2010. The Company's products can be viewed at http://www.kandivehicle.com and its corporate website is http://www.chinakandi.com.
Kandi Technologies, Corp.
Chairman and CEO
Executive Vice President of Finance
Jeff Lambert, Mike Houston
Lambert, Edwards & Associates
SOURCE Kandi Technologies, Corp.