The partnership aims to provide easy finance options for Hero electric scooters, and at the same time allow the brand to offer its products in new markets.
see photosHero Electric will offer easy finance options and the partnership will enable operations in new markets
Hero Electric has joined hands with Cholamandalam Investment and Finance Company Limited (CHOLA), the financial services arm of the Murugappa Group, to provide easy finance options for electric two-wheelers. The collaboration aims to make Hero Electric scooters more affordable by offering attractive finance options for discerning and price-conscious buyers, and helping Hero Electric cater to new markets, a company statement said. To enable this is to take advantage of the wide presence of the Cholas across the country. Hero Electric is India’s largest electric two-wheeler manufacturer and has been in operation for more than 14 years.
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Sohinder Gill – CEO Hero Electric says that the partnership will provide easy finance options for Hero Electric Scooters and also help the brand to enter new untapped markets.
Commenting on the partnership, Sohinder Gill, CEO, Hero Electric, said, “The volatility of the market and the increased preference for sustainable mobility has necessitated the availability of robust finance schemes to encourage the EV shift. and preferred financing options will further favor green mobility. Leading to a seamless ownership experience. The association will allow entry into new untapped markets and easy access at best rates and minimal documentation. Also, priority lending for EVs and existing government subsidies The focus on delivering will create convenience for our buyers at all levels.”
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Hero Electric currently has a market share of over 36 per cent.
“Chola’s vision has always been to enable our customers to ‘enter a better life’. Since our inception and throughout our growth phase, we have been conscious of this approach while doing business. Our partnership with Hero Electric is in line with this endeavor. The transition to electric mobility is fast moving towards becoming an inevitable reality. With our easy and innovative financing options, we are Hero Electric’s aim to make EV adoption easier for two wheeler buyers. Looking forward. This partnership will also help us establish a strong foothold in the world. EV financing space with our 1145 branches spread across urban, semi-urban and rural markets. The synergy between the two companies is aimed at helping our esteemed customers in their electric two-wheelers. The sole focus is to help wheeler dreams come true. This relationship will help us go a step ahead to meet our ESG goals, says Mr. Ravindra Kundu, Executive Director, Cholamandalam Investment & Finance.com Pani Ltd. Mitten.
Read also: Hero Electric partners with RevFin to finance and lease electric scooters
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Hero Electric is India’s leading electric two-wheeler manufacturer with a manufacturing unit in Ludhiana. The company sells a wide range of electric scooters to a wide range of customers. Hero Electric currently has over 750 sales and service outlets across the country, along with an extensive charging network and trained roadside EV mechanics.
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