Kandi secures CATL order: Kandi Technologies Group stock is valued at USD 68.6 million

Kandi Technologies Group, Inc. (ISIN VGG5214E1034) secured a follow-on order for CATL heavy-truck battery-swap stations on September 28, 2026, as Kandi Technologies Group stock carried a USD 68.6 million market capitalization on October 2, 2026. The order marked the second batch tied to the company partnership with CATL within two months, according to Kandi Technologies.

Battery swapping adds a second engine

Kandi's China Battery Exchange subsidiary is building a battery-swapping equipment business alongside its electric off-road vehicle operations. The September 28 order gives that newer activity another commercial deployment milestone, while the company continues to sell utility vehicles, neighborhood electric vehicles, golf carts and off-road products.

The CATL relationship matters because the follow-on order connects Kandi to heavy-truck infrastructure rather than only consumer and recreational mobility. The September 28 announcement therefore broadens the operating narrative from vehicle manufacturing toward equipment supplied for commercial transport.

First-half revenue rose 57.4 percent

For the six months ended June 30, 2026, Kandi reported USD 57.1 million of net revenue, up 57.4 percent from USD 36.3 million in the comparable period of 2025, according to StockTitan. Revenue from off-road vehicles and related parts increased 59.4 percent to USD 54.2 million, making that business the main quantified driver in the interim report.

Gross profit rose 51.5 percent to USD 24.8 million in the first half of 2026, while gross margin eased to 43.5 percent from 45.2 percent. The combination shows faster sales growth alongside a modest contraction in gross profitability.

Operating income turned positive

Kandi reported USD 5.5 million of operating income for the first half of 2026, compared with a USD 1.9 million operating loss in the same period of 2025. Net income increased 452.2 percent to USD 9.4 million from USD 1.7 million, and diluted earnings per share reached USD 0.10 versus USD 0.02.

The figures put operating execution beside the CATL order as the central issue for the company. Cash, restricted cash and certificates of deposit totaled USD 285.7 million as of June 30, 2026, while total assets stood at USD 461.4 million.

Market value remains compact

Kandi's market capitalization was USD 68.6 million as of October 2, 2026. The company is listed on Nasdaq under KNDI and operates in the consumer cyclical sector, with the industry classification Auto - Manufacturers.

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