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Hero Electric, a leading Indian EV-two-wheeler brand, announced its collaboration with RevFin, a digital consumer lending platform that makes loans readily available to EV riders in India. This partnership will make it easier to own electric two-wheelers commercially for e-commerce deliveries, ridesharing and so on. More companies are attempting to make the transition from internal combustion vehicles to EVs. This is possible by providing better products, more EV charging stations, and a larger network of dealers. Another important step towards enabling people to move to new mobility is being able to obtain loans to purchase EVs.
The two companies have reached an agreement to finance and lease 2,50,000 electric 2-wheelers together over the next three years. They also collaborate with numerous logistics, e-commerce, and fleet operations companies in order to achieve their goal. RevFin currently is available in 18 states including UP and Haryana, Uttarakhand and Jharkhand to support underserved groups. Hero Electric has forged multiple partnerships in order to provide the best possible experience for its customers and partners.
Sohinder Gill, the CEO, of Hero Electric, said, “Fleet electrification by businesses has been one of the key conversations driven by the Government to negate carbon footprint across the country. With the delivery and e-commerce segments growing exponentially, Hero aims to support and steer the EV transition through partnerships to strengthen the B2B segment. This partnership will enable us to provide interested customers with the flexibility to purchase an electric two-wheeler in easy monthly instalments while riding clean mobility. It further enables us to explore different channels to lease and supply our scooters and contribute towards a carbon-free future with EVs.”
Sameer Aggarwal, Founder, RevFin, said, “We are thrilled to partner with a major player like Hero Electric and be a part of the journey towards their vision of transforming the way the future of India rides. Commercial two-wheeler adoption is still low in India, where finance is one of the largest challenges. Through this association, we expect to change this trend and power the Government’s plans to increase electric mobility penetration in the country.”