Item 1.01 Entry into a Material Definitive Agreement.

On September 29, 2012, Zhejiang Kandi Vehicles Co., Ltd. ("Kandi Vehicles"), a wholly owned subsidiary of Kandi Technologies, Corp. (the "Company") entered into a Sales Contract for sale of electric vehicles ("Sales Contract") with China Aviation Lithium Battery (Hangzhou) Co., Ltd. ("CALB Hangzhou").

Under the Sales Contract, CALB Hangzhou will purchase 5,000 pure electric vehicles without battery from Kandi Vehicles for a total price of RMB 199,000,000 (approximately US$31,587,301). The unit price of the electric vehicle is RMB 39,800 (approximately US$6,317) and the delivery place for the electric vehicles will be in Hangzhou City, China. The purchase period of the Sales Contract will be from September 29, 2012 to December 31, 2012. Kandi Vehicles will deliver the electric vehicles upon CALB Hangzhou's delivery confirmation notice by batch, delivery to be made within 7 working days of receipt of the notice and CALB Hangzhou's full payment for the vehicles identified in the confirmation notice.

The purpose of CALB Hangzhou's purchase is to promote the use of electric vehicles in Hangzhou City on a large scale and CALB Hangzhou has the right to adjust vehicle delivery times to conform to the implementation of this promotion, to market responses as well as to the actual running conditions of the electric vehicles, including vehicle quality and market adaptability.

The description of the terms and conditions of the Sales Contract is qualified in its entirety by the full text of that document, which is attached hereto as an Exhibit.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description of Document
10.1 Sales Contract of Electric Vehicles

---