UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
____________________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of
Report (Date of earliest event reported): May 23, 2008
KANDI
TECHNOLOGIES, CORP.
(Exact
name of registrant as specified in its charter)
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Delaware
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333-123735
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87-0700927
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(State
of Incorporation)
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(Commission
File Number)
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(IRS
Employer Identification)
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Jinhua
City Industrial Zone
Jinhua,
Zhejiang Province
People’s
Republic of China
Post
Code
321016
(Address
of principal executive offices)
(86
-
0579) 82239700
Registrant’s
telephone number, including area code
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see
General
Instruction A.2. below):
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Item
5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
On
May
23, 2008, Kepei Xie and Jing Feng Ying resigned from the Board of Directors
(the
“Board”) of Kandi Technologies, Corp. (the “Company”). Mr. Xie was a member of
the Company’s Audit Committee, Compensation Committee and Nominations/Corporate
Governance Committee. Mr. Ying was a member of the Company’s Compensation
Committee and Nominations/Corporate Governance Committee.
On
May
23, 2008, Zhengming Yao and Min Qian were elected to the Board of the Company
by
unanimous approval of the Board, effective immediately. Both Mr. Yao and Mr.
Qian are independent directors, in accordance with the rules of the NASDAQ
Stock
Market, Inc. Marketplace Rules.
Mr.
Yao
graduated from the Zhejiang Institute of Finance and Economics in January 1980,
after which he was assigned to work in the Yongkang Finance Bureau. Over the
course of his career, Mr. Yao worked in several capacities for the Chinese
government, including as Vice Director of the Finance Bureau in Yongkang
(1988-1996), Director of Foreign Trade Bureau (1996-1997), Director of the
Communications Bureau (1998-2003) and Director of the Science and Technology
Bureau (2003-2007). He is currently the Director of the Development Bureau.
Mr.
Qian
received his B.A. from Southwest University of Science and Technology, located
in Minyang, China in 2005. Over the course of his career, Mr. Qian worked as
a
Director and Vice President of the Agricultural Bank of China, Yongkang Branch
(1990-2008) and is currently the General Manager of Zheshang Bank Co., Ltd.
The
Board
has appointed Mr. Yao to be a member of the Company’s Audit Committee,
Compensation Committee and Nominations/Corporate Governance Committee. The
Board
has appointed Mr. Qian to be a member of the Company’s Compensation Committee
and Nominations/Corporate Governance Committee.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated:
May
28,
2008
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KANDI
TECHNOLOGIES, CORP.
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By:
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/s/
Hu Xiaoming
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Name:
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Hu
Xiaoming
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Title:
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President
and CEO
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