(Bloomberg) -- Kandi Technologies Group Inc. plans to work with companies including Alibaba Group Holding Ltd., Uber China and China Minsheng Banking Corp. to promote connected electric cars, according to people familiar with the matter.

Zhejiang Geely Holding Group Co. and ZTE Corp. will also be among the companies that plan to sign a manifesto in Hangzhou, China, on Tuesday, the people said, asking not to be named ahead of the official announcement. Kandi shares fell 19 percent to $8.75 at 9:51 a.m. in New York after tumbling as much as 23 percent, the most intraday since September 2012.

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