Kinetic Green Energy and Power Solutions, a Pune-based company has brought in Cholamandalam Investment and Finance Company, a unit of the Murugappa Group to provide smart and easy financing options for its range of electric two-wheelers and battery-operated three-wheelers.
Both sides have signed an agreement confirming their understanding. Kinetic Green then nominated Chola to be an ‘accredited financial advisor’ for its customers. This alliance aims to make battery-operated vehicles of Kinetic Green affordable for buyers who are price-conscious and offer attractive financing options.
Kinetic Green will be able to compete in a market that already has several companies like TVS Motors. However, the new entrant will be able to tap into the brand recall associated with the name of the company. Kinetic Engineering was a market leader in the scooter segment to the 15-year-old tie-up with Honda.
“This partnership will enable Kinetic Green and its dealers to offer easy and affordable financing solutions to our EV customers, which perfectly fit their needs and repayment abilities. With attractive finance options offered under the collaboration, Kinetic Green’s customers can be assured of competitive financing solutions for their finance needs. This will further propel the company’s electric two and three-wheelers’ demand,” said Sulajja Firodia Motwani, founder-CEO, of Kinetic Green Power Solutions Ltd.
“This relationship will help us in taking a step closer to fulfilling our ESG goals. Under this alliance, the biggest beneficiaries will eventually be the customers. With our strong network of 1,145 plus branches across India, we aim to offer the customers customised finance packages that would come with speedy, convenient and transparent processes,” said Ravindra Kundu, Executive Director, Cholamandalam Investment and Finance Company Limited.