L&T Finance, a prominent Non-Banking Financial Company (NBFC), is teaming up with Ather Energy, India’s first intelligent electric vehicle manufacturer. With its wide presence in over 100 cities across India, Ather Energy has been a pioneering force in the electric vehicle market. This partnership aims to make electric two-wheelers more accessible to customers by offering attractive financing options.
L&T Finance, a leading player in the new two-wheeler finance segment, plans to provide financing of up to 100% of the Loan-to-Value (LTV) for Ather Energy’s electric vehicles. The financing will be based on the on-road price of the vehicle, which includes the ex-showroom price, Regional Transport Office (RTO) charges, and insurance. The loan amount will be determined based on the customer’s credit profile.
Customers of Ather Energy can choose from various financing products offered by L&T Finance, including Verified Income Proof (VIP) Loan, VIP Pro Loan, Sabse Khaas Loan (SKL), SKL Pro, Centum Loan, and Express Loan. Except for Express Loan, which is available to all customers without the need for credit profiles or income proof, the interest rate for these products is 6.99% per annum. Express Loan carries a slightly higher annual interest rate of 7.99% per annum. The loan tenure ranges from 3 months to 48 months.
Mr. Sanjay Garyali, Chief Executive – Urban Finance, L&T Finance, expressed excitement about the partnership, emphasizing its commitment to reducing carbon footprints and contributing to a cleaner and greener India. He highlighted the role of this collaboration in line with L&T Finance’s Lakshya 2026 strategy, which focuses on environmental responsibility and sustainability.
Mr. Ravneet Phokela, Chief Business Officer, of Ather Energy, emphasized Ather’s commitment to promoting electric vehicle financing. More than 50% of Ather’s customers opt for vehicle financing when purchasing their scooters. He expressed delight in the partnership with L&T Finance, which would further accelerate electric vehicle adoption by offering customers a range of finance products to choose from.
This partnership is expected to contribute to the growth of India’s two-wheeler segment, driven by factors such as increased purchasing power, a preference for personal mobility, and a growing demand for technologically advanced vehicles.
With a focus on providing innovative and attractive financing options, this collaboration aims to make electric mobility more accessible and affordable for customers across India.