Kandi to deliver Electric Scooters to DGL Group
Kandi Technologies Group, Inc. announced that Hu Xiaoming, Chairman of Kandi, and Joey Wahba, CEO of DGL Group Inc. signed a Purchase Framework Agreement on behalf of Kandi’s wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. and DGL Group regarding an initial batch order of 300,000 electric scooters and 500,000 electric self-balancing scooters.
The total value of the Agreement is expected to be about RMB500 million (approximately $70.5 million). The purchased products are expected to be completed and delivered within one year from the date of signing this Agreement.
DGL Group is a US-based company focusing on market development, product sourcing, and sales. Having established a long-term strategic partnership with Walmart, Sam's Club, Home Depot, Kohl's, Dollar General, Bed Bath and Beyond, and other large retail stores, DGL is a leading full service provider offering one-stop solution services to retail stores and supermarkets including, but not limited to, marketing research, product positioning development, quality control, and after-sales services.
Since 2017, DGL is Wal-Mart's largest supplier and strategic partner of electric self-balancing scooters under intelligent transportation product category. Internationally, DGL partners with Argos in the United Kingdom as its largest supplier and strategic partner of electric self-balancing scooters in the intelligent transportation product category.
Hu Xiaoming, Chairman of Kandi, commented, “Kandi is currently in the process of upgrading its pure electric vehicle products to comply with US regulations. The upgraded products will be launched in the US market in the near future. Additionally, the electric vehicle products that are designed for China's online ride-sharing market are also being improved. Kandi model K23 is expected to enter into the online ride-sharing market soon. Given Kandi's experience in off-road vehicle products development, Kandi is in a strong position to manufacture intelligent transportation products.”
“Collaborating with DGL Group to develop intelligent transportation products together allows us utilise our best resources and expertise in this area. Beyond the electric scooters and electric self-balancing scooters we are working on, the two parties are in discussion about further cooperation on other pure electric transportation products.”
Kandi to deliver Electric Scooters to DGL Group
Modified on Tuesday 24th September 2019
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Kandi to deliver Electric Scooters to DGL Group