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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d) of The
Securities Exchange Act of 1934<BR>
Date of Report (Date of earliest event reported): </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>February 13, 2012<FONT STYLE="color: black">&nbsp;</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>KANDI TECHNOLOGIES, CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact name of registrant as specified in
its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B>&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2.25pt; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 34%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2.25pt; font-weight: bold; text-align: center">001-33997</TD>
    <TD STYLE="width: 33%; border: black 1pt solid; padding: 2.25pt; font-weight: bold; text-align: center">90-0363723</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 2.25pt; font-weight: bold; text-align: center">(State of Incorporation)</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 2.25pt; font-weight: bold; text-align: center">(Commission File Number)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2.25pt; font-weight: bold; text-align: center">(IRS Employer Identification)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Jinhua City Industrial Zone</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Jinhua, Zhejiang Province</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">People&rsquo;s Republic of China</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Post Code 321016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(86-579) 8223-9700</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant&rsquo;s telephone number, including
area code</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">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<FONT STYLE="color: black">
(see General Instruction A.2. below): </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-family: Wingdings; text-align: left">o</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Written communications pursuant to Rule 425 under the Securities
        Act (17 CFR 230.425)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Wingdings; text-align: left">o</TD>
    <TD STYLE="text-align: left">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-family: Wingdings; text-align: left">o</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pre-commencement communications pursuant to Rule 14d-2(b) under
        the Exchange Act (17 CFR 240.14d-2(b))</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Wingdings; text-align: left">o</TD>
    <TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px; font-weight: bold">Item 1.01</TD>
    <TD STYLE="font-weight: bold">Entry Into a Material Definitive Agreement.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On February 13, 2012,
Kandi Technologies Corp., a Delaware corporation (the &ldquo;Company&rdquo;), entered into a Share Exchange Agreement (the
&ldquo;Agreement&rdquo;) with KO NGA Investment Limited, a British Virgin Islands corporation (&ldquo;KO NGA&rdquo;) and each
of the shareholders of KO NGA (&ldquo;KO NGA Shareholders,&rdquo; and, together with KO NGA, the &ldquo;Sellers&rdquo;).
Pursuant to the terms of the Agreement, the Sellers will exchange an aggregate of 253 shares of KO NGA, representing 100% of
the issued and outstanding shares of KO NGA, to the Company for a total of 2,354,211 shares (the &ldquo;Exchange
Shares&rdquo;) of the Company&rsquo;s common stock (the &ldquo;Exchange&rdquo;), representing an aggregate exchange purchase
price of RMB 50,052,387.66 (approximately $7,952,524), which is primarily derived from KO NGA&rsquo;s indirect, wholly-owned
operating entity Yongkang Scrou Electric. Co., Ltd. in China and based upon a valuation report by an independent, third party
valuation firm.&nbsp;&nbsp;Upon consummation of the Exchange, KO NGA will become a
wholly-owned subsidiary of the Company. The Company is obligated to file a registration statement on Form S-3 (or if Form S-3
is not available another appropriate form) registering the resale of the Exchange Shares that are to be issued to the
Sellers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Agreement contains
customary representations and warranties and pre- and post-closing covenants of each party and customary closing conditions including
but not limited to (i) all of the parties obtaining all necessary consents and approvals; (ii) KO NGA&rsquo;s delivery of certain
financial statements; and (iii) the successful completion of any and all divestitures or other pre-closing transaction required
of the KO NGA and necessary for completion of the Agreement. A 10 million RMB (approximately $1.6 million) break-up fee will apply
if either party terminates the Agreement prior to the closing without the causes stipulated under the Agreement. Breaches of the
representations and warranties will be subject to customary indemnification provisions.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px; font-weight: bold">Item 3.02</TD>
    <TD STYLE="font-weight: bold">Unregistered Shares of Equity Securities</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">See Item 1.01 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Exchange Shares will
be issued by the Company in reliance on an exemption from the registration requirements of the Securities Act of 1933, as amended
(the &ldquo;Act&rdquo;) for the private placement of our securities pursuant to Regulation S of the Act.&nbsp;&nbsp;The Exchange
Shares will be issued to non-U.S. persons (as such term is defined in Regulation S) in an offshore transaction relying on Regulation
S. The Sellers acknowledged that the Exchange Shares to be issued have not been registered under the Act, and that they understood
the economic risk of their investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <DIV STYLE="margin-bottom: 6pt">&nbsp;</DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold">KANDI TECHNOLOGIES, CORP.</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 3pt solid; font-size: 10pt">Date: February 17, 2012</TD>
    <TD STYLE="border-bottom: white 3pt solid; font-size: 10pt">By:</TD>
    <TD NOWRAP STYLE="border-bottom: black 2.25pt solid; font-size: 10pt">/s/ Hu Xiaoming</TD>
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; font-size: 10pt; vertical-align: bottom">Hu Xiaoming</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">President and Chief Executive Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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{"company-data": {"conformed-name": "Kandi Technologies Corp", "cik": "0001316517", "assigned-sic": "3711", "irs-number": "870700927", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33997", "film-number": "12623041"}, "business-address": {"street1": "JINHUA CITY INDUSTRIAL ZONE", "street2": "ZHEJIANG PROVINCE", "city": "JINHUA", "state": "F4", "zip": "321016", "phone": "(86-0579) 82239851"}, "mail-address": {"street1": "JINHUA CITY INDUSTRIAL ZONE", "street2": "ZHEJIANG PROVINCE", "city": "JINHUA", "state": "F4", "zip": "321016"}, "former-company": {"former-conformed-name": "STONE MOUNTAIN RESOURCES INC", "date-changed": "20050203"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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):
February 13, 2012
KANDI TECHNOLOGIES, CORP.
(Exact name of registrant as specified in
its charter)
Delaware
001-33997
90-0363723
(State of Incorporation)
(Commission File Number)
(IRS Employer Identification)
Jinhua City Industrial Zone
Jinhua, Zhejiang Province
People's Republic of China
Post Code 321016
(Address of principal executive offices)
(86-579) 8223-9700
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):
o
Written communications pursuant to Rule 425 under the Securities
        Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under
        the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01
Entry Into a Material Definitive Agreement.
On February 13, 2012,
Kandi Technologies Corp., a Delaware corporation (the "Company"), entered into a Share Exchange Agreement (the
"Agreement") with KO NGA Investment Limited, a British Virgin Islands corporation ("KO NGA") and each
of the shareholders of KO NGA ("KO NGA Shareholders," and, together with KO NGA, the "Sellers").
Pursuant to the terms of the Agreement, the Sellers will exchange an aggregate of 253 shares of KO NGA, representing 100% of
the issued and outstanding shares of KO NGA, to the Company for a total of 2,354,211 shares (the "Exchange
Shares") of the Company's common stock (the "Exchange"), representing an aggregate exchange purchase
price of RMB 50,052,387.66 (approximately $7,952,524), which is primarily derived from KO NGA's indirect, wholly-owned
operating entity Yongkang Scrou Electric. Co., Ltd. in China and based upon a valuation report by an independent, third party
valuation firm.  Upon consummation of the Exchange, KO NGA will become a
wholly-owned subsidiary of the Company. The Company is obligated to file a registration statement on Form S-3 (or if Form S-3
is not available another appropriate form) registering the resale of the Exchange Shares that are to be issued to the
Sellers.
The Agreement contains
customary representations and warranties and pre- and post-closing covenants of each party and customary closing conditions including
but not limited to (i) all of the parties obtaining all necessary consents and approvals; (ii) KO NGA's delivery of certain
financial statements; and (iii) the successful completion of any and all divestitures or other pre-closing transaction required
of the KO NGA and necessary for completion of the Agreement. A 10 million RMB (approximately $1.6 million) break-up fee will apply
if either party terminates the Agreement prior to the closing without the causes stipulated under the Agreement. Breaches of the
representations and warranties will be subject to customary indemnification provisions.
Item 3.02
Unregistered Shares of Equity Securities
See Item 1.01 above.
The Exchange Shares will
be issued by the Company in reliance on an exemption from the registration requirements of the Securities Act of 1933, as amended
(the "Act") for the private placement of our securities pursuant to Regulation S of the Act.  The Exchange
Shares will be issued to non-U.S. persons (as such term is defined in Regulation S) in an offshore transaction relying on Regulation
S. The Sellers acknowledged that the Exchange Shares to be issued have not been registered under the Act, and that they understood
the economic risk of their investment.
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.
KANDI TECHNOLOGIES, CORP.
Date: February 17, 2012
By:
/s/ Hu Xiaoming
Hu Xiaoming
President and Chief Executive Officer