Kandi Technologies: Rises on credit agreement with Agricultural Bank of China

Kandi Technologies

29/12/2020 15:23

** U.S.-listed shares of Chinese electric automaker  KNDI.O 
up 5.2% at $7.2 in morning trade 
    ** Enters into strategic cooperation agreement with the
Hangzhou branch of the state-owned Agricultural Bank of
China(ABC)  urn:newsml:reuters.com:*:nGNX2wZmZt
    ** ABC Hangzhou branch will provide co with an RMB 500 mln
(about $76.5 mln) line of credit
    ** Credit is to support the implementation of 300,000
government-accredited pure EVs with battery swap model within 5
years of rideshare program
    ** Stock up ~51% YTD 

 (Reporting by Shivani Kumaresan in Bengaluru)
 ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))