Ather Energy Join Forces With Jana Small Finance Bank To Provide EV Financing Options

A file photo of Ather Energy's Ather 450X Electric scooter

Ather Energy partners with Jana Small Finance Bank to provide EV financing options for its customers. Jana Small Finance Bank will be facilitating the accessibility of Ather scooters and accelerating the adoption of EVs in India through its partnership.

Customers of Ather can now apply for two-wheeler loans. There is no minimum down payment, competitive interest rates, and easy MI repayment options. Flexible terms ranging from 12 to 48 months. Jana Bank will offer loans to customers who are new to credit, which accounts for approximately 20-25% of Ather’s total customer base.

Ravneet S Phokela is Ather Energy’s, Chief Business Officer. He stated, “Over the last couple of years, Ather has joined hands with a number of credible financial institutions to offer our customers lucrative financing options to facilitate a stress-free switch to EVs. We will continue to work with top banks, NBFCs, and financial institutions.”

Customers can quickly check their eligibility for loans and complete any other formalities by visiting any Ather Experience centre or Jana Small Finance bank-designated storefront. Jana Small Finance customers can also trade in their two-wheelers with Ather and receive an exchange bonus up to Rs 4000

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Pradeep Rebello Head Of two Wheeler Finance Jana Small Finance Bank said that “Jana Bank digitally along with Ather Energy will provide customers with an amazing ownership experience. This combination product offering will support sustainable transportation and the green environment.”

Ather Energy has partnered up with top finance companies to provide financing options for its customers and help accelerate the adoption of electric cars in India. Ather’s finance penetration has increased from 5-8% in 2019 to over 45% by 2023.

To meet increasing demand, Ather opened its second manufacturing plant in Hosur. The 300,000-square-feet facility will allow Ather to increase its production capacity by 4,20,000 units annually in FY 2024.

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