Pune-headquartered electric two-wheeler manufacturer iVOOMi Energy has partnered with Bajaj FinServ and L&T, to promote the adoption of electric scooters through easy retail finance options to its consumers.
The company, in a statement, said that it will be providing hassle-free loans to customers, who can avail up to 100 % of the on-road prices of the electric two-wheelers with zero down payment.
iVOOMi and Bajaj FinServ have partnered to offer upto 100% EV finance at zero down payment with a minimal 7% interest rate. With immediate effect, the company said that it has started offering its customers quick loans within 24 hours of their application. The financing options will be available at the company’s 50 dealerships across the country.
Sunil Bansal, MD & Co-founder, iVOOMi Energy said, “We are implementing the financing solution in the offline model for now, and soon will be integrating the deals on our online portal which enables consumers to buy iVOOMi EVs in the comfort of their homes,”
“We believe that ensuring consumer convenience is critical to accelerating EV adoption in India. We are delighted to partner with Bajaj FinServ to fast-track the adoption of EVs by providing appropriate financial services to consumers.”, he added.
The company is providing financing alternatives based on a person’s credit history, and those who are eligible can avail up to 100% cost of on-road price of electric two-wheelers with zero down payment.
The tenure for the same may range from 3 months to 36 months or even more. The EV manufacturer Energy will include all the channel partners over 50 locations across the country that can take advantage of the said services, with an online financing option coming up along with the launch of its flagship D2C platform by Diwali season sale.