What is the expected timeline for the rollout of the battery‑swap stations and associated equipment?

Expected rollout timeline

The framework‑procurement contract signed between Kandi’s China Battery Exchange subsidiary and CAT — the world’s leading battery‑technology provider — calls for a phased deployment that will begin in the fourth quarter of 2025 with a pilot‑program of a limited number of swap stations in key Chinese megacities. The agreement specifies that full‑scale commercial roll‑out of the battery‑swap network and the associated hardware (swap‑bay units, high‑‑power chargers, and the software‑control platform) is slated for the first half of 2026, with the company targeting a network of 100–150 stations by the end of 2026 and 200+ stations by mid‑2027 as the supply chain with CATL matures and the “swap‑as‑a‑service” model is rolled out to Kandi’s EV and utility‑vehicle lines.

Trading implications

• Short‑term catalyst: The Q4‑2025 pilot start should trigger a modest price lift for Kandi (NASDAQ: KNDI) as investors price in the first tangible revenue stream from equipment sales and service contracts with CATL. Expect a 5‑8 % upside on the next trading day if the market digests the rollout schedule.
• Medium‑term upside: Assuming the 2026‑2027 network build‑out proceeds on schedule, Kandi’s recurring‑revenue model (hardware sales, swap‑station leasing, and software licensing) could more than double its 2025 equipment‑sales forecast, providing a 10‑15 % upside to the stock by the end of 2027. The partnership also deepens Kandi’s exposure to CATL’s fast‑growing battery‑swap ecosystem, a sector that is still under‑priced relative to the broader EV market.
• Risk considerations: Delays in component supply (e.g., high‑‑power converters) or regulatory approvals for swap‑station siting could push the 2026 commercial launch out by several months, capping upside and adding volatility. Keep a tight stop‑loss around 4‑5 % if the rollout milestones are missed.

Actionable take‑away:

- Buy on any pull‑back ahead of the Q4‑2025 pilot announcement, targeting a 5‑8 % upside on the next session.

- Scale in as the 2026 network‑build milestones are confirmed (e.g., first 50 stations operational), positioning for the projected 10‑15 % rally through 2027.

Overall, the timeline—pilot Q4 2025, broad commercial rollout H1 2026, and network expansion through 2027—sets a clear, near‑term catalyst that should be priced into Kandi’s equity now.