Pune-based electric two-wheeler manufacturer, iVOOMi Energy, has partnered with Bajaj FinServ and L&T, to promote the adoption of electric scooters through easy retail financing options for its consumers.
The company, in a statement, said it will provide hassle-free loans to customers, who will be able to avail up to 100% of on-road prices of electric two-wheelers without any down payment.
iVOOMi and Bajaj FinServ have partnered to offer up to 100% no down payment EV financing with a minimum interest rate of 7%. Effective immediately, the company said it began offering fast loans to customers within 24 hours of applying. Financing options will be available at the company’s 50 dealerships across the country.
Sunil Bansal, MD and co-founder of iVOOMi Energy, said, “We are implementing the financing solution in the offline model at this time, and we will soon integrate the offers into our online portal which allows consumers to ‘buy iVOOMi electric vehicles from the comfort of their homes,’
“We believe that ensuring consumer convenience is key to accelerating the adoption of electric vehicles in India. We are delighted to partner with Bajaj FinServ to accelerate the adoption of electric vehicles by providing appropriate financial services to consumers,” he added.
The company offers financing alternatives based on a person’s credit history, and those who qualify can qualify for up to 100% of the on-road cost of electric two-wheelers with no down payment.
The tenure for the same can range from 3 months to 36 months or even more. Electric vehicle maker Energy will include all channel partners at more than 50 locations across the country who can take advantage of said services, with an online financing option coming with the launch of its flagship D2C platform through the sale of Diwali season.