Benzinga | Jul 6, 2021 03:22PM EDT

Kandi Technologies Offers Retail Financing Options With Synchrony

* Electric vehicle manufacturer Kandi Technologies Group Inc (NASDAQ:KNDI) has signed an agreement with Synchrony Financial (NYSE:SYF), a consumer financial services company, to provide retail financing options.

* Effective on July 1, 2021, eligible Kandi America customers can receive a 72-month installment financing on Kandi NEVs and up to 84 months on Kandi Powersports off-road vehicles with an annual percentage rate low as 2.99%.

* Kandi is also working with Wells Fargo Commercial Distribution Finance and Northpoint Commercial Finance to provide inventory financing to the company's network of dealers.

* "The relationship with Synchrony marks a significant moment in time for Kandi America as we provide customers the opportunity to have low monthly payments while enjoying their Kandi vehicles, said CEO Johnny Tai.

* Price action: KNDI shares are trading higher by 1.38% at $5.87 on the last check Tuesday.