iVOOMi Energy, a Pune-based electric two-wheeler manufacturer, has joined forces with Bajaj FinServ and L&T to encourage the adoption of electric scooters by offering easy retail financing options for its customers.
According to the company, it will provide hassle-free loans for customers. Customers can get up to 100 % off the on-road price of electric two-wheelers, with no down payment.
Bajaj FinServ and iVOOMi have partnered to offer 100% EV financing at zero down payment rates with a minimum of 7% interest. The company announced that it now offers quick loans to its customers within 24 hours of receiving their applications. The financing options will be offered at 50 of the company’s dealerships throughout the country.
Sunil Bansal, MD & Co-founder, iVOOMi Energy said, “We are implementing the financing solution in the offline model for now, and soon will be integrating the deals on our online portal which enables consumers to buy iVOOMi EVs in the comfort of their homes.”
“We believe that ensuring consumer convenience is critical to accelerating EV adoption in India. We are delighted to partner with Bajaj FinServ to fast-track the adoption of EVs by providing appropriate financial services to consumers,” he added.
The company offers financing options based on credit history. Those who are eligible can get up to 100% off the on-road price for electric two-wheelers with no down payment.
The term of the agreement can be from 3 to 36 months, or longer. iVooMi Energy, an EV manufacturer, will offer the services to all channel partners in 50 locations throughout the country. There is also an option for online financing.