Jitendra New EV Tech has partnered up with Eduvanz, a digital Fintech NBFC to make it easier for consumers to finance electric vehicles. This partnership was announced at a moment when EV financing remains a major obstacle in India’s adoption process of electric vehicles.
Ashwin Natarajan (VP – Business Development at Eduvanz) stated that the duo will offer EVs on financing schemes that span 24 months (24 EMIs). He stated that customers can purchase exciting new JEV electric scooters with ease and affordability. Eduvanz finance EVs at an 11% annual rate to eligible customers.
Samkit Shah, Director and CEO of Jitendra Electric Vehicle Tech said that the company was pleased to announce its partnership with Eduvanz Financing, whose latest offering will provide people who are interested in JEV scooters with fast and affordable financing options. This will ensure increased EV adoption in India, which is in line with the government’s push for cleaner and greener vehicles.
Jitendra EV sold 4,217 electric scooters in CY22 YTD. Jitendra Electric Vehicles are sold under Shah Group’s umbrella in March 2022. Its June sales were only 548.
Experts believe that the EV fires for electric two-wheelers is the main reason for the decline in sales of new electric vehicles OEMs such as Jitendra EV. The company has a total range of e2Ws that includes 10 models and more than 150 touch points throughout India.