Hero Electric announced that it has joined forces with Cholamandalam Investment and Finance Company in order to provide retail finance for its electric two-wheelers.
According to the electric two-wheeler manufacturer, the partnership will allow the company to reach new markets thanks to Chola’s extensive presence in the country.
“The fluctuating market scenario and increased preference for sustainable mobility have necessitated the availability of strong finance schemes to encourage the EV shift. Easy and preferred financing options will further favour the green mobility shift, leading to a seamless ownership experience,” Hero Electric CEO Sohinder Gill noted.
He said that the association would allow for easy access to untapped markets at the most competitive rates and with minimal documentation.
“The shift to electric mobility is steadily moving towards becoming an inevitable reality. With our easy and innovative financing options, we look forward to make EV adoption easier for Hero Electric’s two-wheeler buyers,” Cholamandalam Investment and Finance Company Executive Director Ravindra Kundu said.
He noted that the partnership will give the company a strong foothold within the EV financing sector, with 1,145 branches located in urban, semi-urban, and rural markets.