Greaves Finance Limited, a wholly owned subsidiary of Greaves Cotton Ltd., has announced an industry-first partnership with Eqaro Surety Private Limited under its EV-focused lending platform, evfin. This collaboration aims to redefine the ownership experience for electric two-wheeler (E2W) customers by offering guaranteed resale values through the innovative Smart.fin financing product.
With the secondary market for E2Ws in its nascent stage, this initiative seeks to eliminate buyer concerns over depreciation while driving confidence in the adoption of electric mobility.
Guaranteed Buyback for Seamless Upgrades
Smart.fin, evfin’s flagship product, ensures customers an assured buyback option and seamless upgrades for their electric two-wheelers. By guaranteeing resale values, the partnership mitigates financial risks for consumers, OEMs, and dealers alike, fostering trust and encouraging the shift to sustainable transportation.
A Game-Changer for the EV Ecosystem
Commenting on the partnership, Vikash Khandelwal, CEO of Eqaro Surety Private Limited, said, “Our collaboration with Greaves Finance is a transformative step for the EV industry. By offering resale value guarantees through rigorous processes and an underwriting framework, we aim to democratize electric mobility and build a vibrant ecosystem that benefits all stakeholders, from manufacturers to consumers.”
Wider Reach with Leading OEM Partnerships
evfin has also partnered with leading OEMs such as Ather Energy, Ampere, and River Mobility Pvt. Ltd., covering dealerships across 47 cities in India. This extensive network ensures that customers nationwide can access tailored financing solutions for their E2Ws.
Enhanced Ownership Experience
Speaking on the initiative, P. B. Sunil Kumar, CEO of Greaves Finance, stated, “This partnership with Eqaro reimagines the electric two-wheeler ownership journey by ensuring secure resale value and eliminating depreciation worries. It motivates more customers to adopt EVs and contributes to a sustainable future.”
Driving Sustainable Growth
For OEMs and dealers, the guaranteed buyback program reduces financial risks and enhances customer retention. For consumers, it offers a worry-free ownership experience and simplifies the process of upgrading to newer, advanced electric vehicles.
Greaves Finance’s partnership with Eqaro reflects a shared commitment to boosting the adoption of electric mobility and building a sustainable ecosystem for E2Ws.
