Core Insights - The "2025 EqualOcean Globalization Forum" held in Shenzhen focused on the future of Chinese companies going global, discussing investment opportunities, capital market trends, and brand building [2] - Dong Xueqin, Chairman of Kandi Technologies, presented a speech on the new paradigm of Chinese manufacturing going global, particularly Kandi's breakthrough in the North American off-road vehicle market [4] Group 1: Kandi's Global Strategy - Kandi has been deeply involved in the transportation sector for decades and has recently shifted its strategy to produce various electric off-road vehicles, targeting the North American market [4] - The differentiation of Kandi's products, particularly the "off-road vehicle," has allowed it to emerge as a leading brand in the North American market [4] Group 2: Technological Advantages - Kandi possesses a natural technological advantage in the electric off-road vehicle sector, having started mass production of electric vehicles in 2013 [5] - The design and development of electric off-road vehicles using automotive technology provide Kandi with a competitive edge in the market [5][7] Group 3: Product Development and Market Penetration - Kandi's electric golf carts and UTV farmer vehicles, designed on electric platforms, have gained significant traction in the North American market, which is predominantly gasoline-powered [7] - Kandi has established partnerships with major retailers like Costco and Lowes, enhancing its market presence and consumer recognition [7] Group 4: Future Innovations and Market Expansion - Kandi is transitioning from a manufacturing-focused company to a technology-driven enterprise, with plans to innovate in the "AI + Sports" sector by developing a caddy robot [8] - The company is also exploring the "AI + North American Industry" market by creating security robots to address high labor costs in the U.S. [10] - Kandi has begun expanding into Southeast Asia, providing delivery robots to major digital companies in Indonesia [10] Group 5: Strategic Partnerships and Future Goals - Kandi has become a supplier for CATL's battery swap equipment and has received its first order for heavy-duty truck battery swap devices [10] - The company aims to leverage its full-chain capabilities in exports and collaborations to create an industrial cluster effect overseas, positioning itself as a facilitator for Chinese technology going global [10]

Core Insights - Kandi Technologies Group, represented by Chairman Dong Xueqin, presented its transformation strategy from traditional manufacturing to technological innovation at the GOSIM forum, emphasizing its "Three Seas" global strategy [1][3][11] Group 1: Three Seas Strategy - The "Three Seas" strategy encompasses product export, manufacturing export, and ecological export, reflecting Kandi's extensive experience in exports and its future development blueprint [3][5] - Kandi focuses on electric vehicles, particularly electric golf carts and UTVs, establishing a solid sales network in North America through partnerships with major retailers like Costco and Lowe's [3][5] Group 2: Global Production and Supply Chain - In response to geopolitical challenges, Kandi is accelerating its global production layout, having established a factory in the U.S. and localized production, with the first U.S.-made golf cart rolling off the line in May [5] - The company is building a global supply chain to mitigate risks and control costs, moving beyond simple product exports to becoming a facilitator for Chinese technology going global [5][11] Group 3: Innovations in Embodied Intelligence - Kandi is collaborating with Deep Robotics to develop intelligent products for the North American market, including a golf caddy robot and a security inspection robot for warehouses, showcasing applications of AI in sports and industrial sectors [6][8] - The company is also exploring last-mile delivery solutions in partnership with Indonesia's GoTo Group, having delivered the first batch of test models [8] Group 4: Advancements in Battery Swapping - Kandi has made significant strides in the battery swapping sector, becoming a supplier for CATL and securing its first order for electric heavy truck battery swapping equipment, marking a pivotal moment in its infrastructure development [9] - The company reported a substantial increase in gross margin from 31.7% in 2024 to 45.2% in the first half of 2025, indicating improved product structure and operational efficiency [9] Group 5: Brand Globalization - Kandi has partnered with the NFL as the exclusive authorized golf cart brand, launching co-branded products for all 32 teams, which is expected to enhance brand recognition and value in the U.S. market [9][10] - The company aims to leverage local partnerships to facilitate brand acceptance and recognition among consumers [10]

Core Viewpoint - The article highlights the success of Kandi Technologies in the North American market, particularly in the electric off-road vehicle segment, emphasizing its strategic shift from electric road vehicles to electric golf carts and utility vehicles, which has led to significant revenue growth and market positioning [3][4][16]. Group 1: Company Overview - Kandi Technologies, established over 20 years ago, has become one of the largest manufacturers of all-terrain vehicles globally, with a diverse product range including electric vehicles, go-karts, and utility vehicles [3][8]. - The company went public on NASDAQ in 2007 and has focused primarily on the North American market, especially the United States [3][8]. Group 2: Business Transformation - In 2021, Kandi Technologies exited its joint venture with Geely to concentrate on the electric off-road vehicle business, particularly electric golf carts, which has become a significant revenue driver [4][8]. - The company faced challenges in the electric vehicle sector, including financial strain and management disagreements, prompting the strategic pivot to non-road vehicles [4][8][27]. Group 3: Market Performance - Kandi's non-road vehicle revenue is projected to reach approximately $116 million in 2024, significantly increasing from $70 million in 2022, which constituted about 60% of total revenue [3][16]. - The company has established a strong presence in the U.S. market, with its products being sold in major retail chains and online platforms [19][21]. Group 4: Localization Strategy - Kandi Technologies is enhancing its local operations in the U.S. by expanding its workforce and establishing production capabilities in Texas, which will allow for more efficient manufacturing and distribution [17][19]. - The company aims to create a localized supply chain to mitigate the impact of tariffs and optimize costs by sourcing components globally [29]. Group 5: Future Prospects - Kandi Technologies is exploring opportunities in the smart equipment sector, including collaborations for robotic products aimed at the North American market [23][24]. - The company has a strategic vision to lead in the electrification and intelligentization of off-road vehicles while leveraging its global supply chain to support Chinese technology expansion [29].