The company, Kandi Technologies Group, has its U.S. headquarters in Dallas, where it’s now selling off-road electric vehicles and golf carts.
The SEC’s order described a series of statements by the company about whether its vehicles were approved for U.S. roads. In February 2019, according to the order, the company indicated its vehicles met National Highway Traffic Safety Administration standards. Nine months later, Kandi said in a news release and regulatory filing that it had a contract to supply its U.S. subsidiary with 2,000 EVs at a value of $32 million, with the first 200 delivered by the end of 2019.
Kandi America wanted to sell highway-ready electric vehicles such as this one when it first launched its U.S. subsidiary.
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