Electric Vehicle ("EV") parts sales increased 168.3% to $46.6 million for the second quarter of 2015 compared to $17.4 million in the same period of 2014
Kandi Electric Vehicles Group Co., Ltd. (the "JV Company"), sold 4,446 EV products, including 3,803 EV products to the Micro Public Transportation program and 643 EV products to the direct sales program, an 8.1% increase compared to the same period last year
For Q3 2015, Kandi expects net revenues to be in the range of $49.0-51.0 mln with gross margin in the range of 13.5% to 14.5%
The co also expects the JV Co to deliver 5,500 to 6,500 EV products in Q3 and a total of 20,000-25,000 EV products in the full year of 2015.