(RTTNews) - Kandi Technologies Group, Inc. (KNDI), a long-renowned in all-electric personal transportation and utility vehicles, on Thursday announced that it has entered an equity transfer agreement to acquire Rawrr Inc., a premium electric off-road motorcycle brand for undisclosed terms.
The company said that the acquisition strengthens its position in the North American sustainable-mobility market and supports its long-term multi-brand expansion strategy and digital operations.
The company noted that the addition of Rawrr is expected to create operational synergies across its North American business.
Rawrr's electric off-road motorcycles will complement the company's lineup of LSVs, UTVs, and other off-road vehicles, broadening the company's low-carbon mobility offering across community transport, outdoor recreation, and sports leisure.
The agreement was signed on December 5.
On Wednesday, Kandi Technologies closed trading 2.72% higher at $0.9700 on the Nasdaq.
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