Kandi America Announces Retail Financing Options

Qualified Kandi NEV and Powersports customers can receive up to 72 and 84-month payment installments, respectively

Kandi America, the U.S. subsidiary of Kandi Technologies Group Inc. (NASDAQ GS: KNDI), an international electric vehicle and powersports manufacturer, today announced it has entered into an agreement with Synchrony, a premier consumer financial services company, to provide retail financing on all Kandi Neighborhood Electric Vehicles (NEV) and Kandi Powersports off-road vehicles.

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Eligible Kandi America NEV and Powersports customers can receive up to 72 and 84-month payment installments through Kandi’s financing agreement with Synchrony. (Photo: Business Wire)

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

“Recognizing the importance of retail financing, our team has been working diligently to partner with the right company to ensure our NEVs and powersports vehicles are accessible for all,” said Johnny Tai, CEO of Kandi America. “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.”

In addition to partnering with Synchrony to provide retail financing, Kandi is working with Wells Fargo Commercial Distribution Finance and Northpoint Commercial Finance to provide inventory financing to the company’s network of dealers. The move of both wholesale financing and retail financing in place is designed to allow Kandi to expand its footprint and approve more applications for dealerships across the country.

Priced at $22,499 and $15,499, respectively, the Kandi NEV K23 and NEV K27 models are eligible for tax incentives that vary by state. While customers can still secure their own loan, financing through Kandi is a quick and easy process that significantly reduces the up front and month-to-month cost of owning a Kandi NEV or Powersports vehicle.

Unique to the NEV market, Kandi’s NEV K23 and NEV K27 models contain safety features such as seatbelts and airbags, much-desired HVAC, and can comfortably fit up to four passengers. The back seats fold down completely to provide ample cargo space, making it perfect for active lifestyles and running errands around town. Both models come standard with a backup camera, Bluetooth capability and a high-tech touchscreen – everything the modern driver needs.

To learn more about Kandi America and Kandi Powersports, visit KandiAmerica.com and KandiPowersports.com.

About Kandi America

Kandi America is the U.S. subsidiary of Kandi Technologies Group, Inc. (NASDAQ GS:KNDI). Headquartered in Dallas, Texas, Kandi America is primarily engaged in the wholesale distribution of off-road vehicle products and electric vehicles. Since 2008, Kandi Technologies has been publicly traded on the Nasdaq Stock Exchange under the symbol KNDI. For more information, visit KandiAmerica.com.

Safe Harbor Statement

This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements.

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Through its agreement with Synchrony, Kandi America will offer qualified customers up to 72- and 84-month payment installments on Kandi Neighborhood Electric Vehicles (NEV) and Powersports off-road vehicles.