Ather Energy partners with IDFC bank to offer its customers a first-in-the-industry electric vehicle financing option.
Customers can purchase an Ather 450X or 450 Plus electric scooter from the scheme with as little as a 5% down payment. Rishi Kant Mishra (Business Head, Vehicle Loans), IDFC, stated that this is the first time IDFC has offered all of this in an electric two-wheeler space.
Ather Energy Chief Business Officer Ravneet S Phokela believes that innovative financing plans and financial models for adoption will be crucial to the industry’s next phase of growth.
He said that a customer who purchases an Ather 450X through this scheme would pay the same monthly cost as a scooter of the same size. This makes our scooters more affordable for a wider range of customers across the country.
Ather is the first OEM to be granted a 48-month loan term for its scooters. Hero MotCorp supported start-up delivered 8,213 units in October 2022, achieving its highest monthly sales ever.