Hero Electric ties up with RevFin to provide loans to EV riders


PTI, May 17, 2022, 12:07 PM IST

Image: Revfin.in

Hero Electric on Tuesday said it has partnered with digital consumer lending platform RevFin to provide loans to EV riders across India.

The partnership aims to finance and lease 2.5 lakh vehicles over the next three years, the company said in a statement.

With delivery and e-commerce segments growing exponentially, Hero Electric aims to support and steer the EV transition through partnerships to strengthen the B2B segment, Hero Electric CEO Sohinder Gill said.

”This partnership will enable us to provide interested customers with the flexibility to purchase an electric two-wheeler in easy monthly instalments while riding clean mobility. It further enables us to explore different channels to lease and supply our scooters and contribute towards a carbon-free future with EVs,” he added.

Commenting on the partnership, RevFin Founder Sameer Agarwal said, “Commercial two-wheeler adoption is still low in India, where finance is one of the largest challenges. Through this association, we expect to change this trend and power the government’s plans to increase electric mobility penetration in the country.” The partnership aims to create better opportunities for riders who intend to use electric two-wheelers (e2Ws) for commercial purposes like e-commerce deliveries, ride-sharing, Hero Electric said.

The partners have inked an agreement to jointly finance 2.5 lakh leased e2Ws over the next three years and collaborate with multiple e-commerce, logistics, and fleet operations companies to fulfill the objective, the statement said.

Hero Electric has over 750 sales and service outlets spread across the country, while RevFin has presence in 18 states, including UP, Bihar, UK, Haryana, Uttarakhand and Jharkhand.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Balasore tragedy result of composite negligence of railway officials: Orissa High Court

Actress Kasthuri stokes controversy by her remarks on Telugu-speaking people in TN

Three convicted for 2016 Kollam collectorate blast case

Expect Canadian government to ensure justice, uphold rule of law: PM Modi

Lone tusker spotted on NH-166 near Karkala, disrupts traffic

Lokayukta police summon Karnataka CM Siddaramaiah for questioning in MUDA case on Wednesday

Not ‘kaun banega mukhyamantri’ contest; MVA to name CM pick after polls: Jairam Ramesh

Related Articles More

Maruti Suzuki looks to cash in on ‘few lakh marriages’ in Nov to carry festive sales momentum

Auto sales grow in mid-to-high single digits during Navratras, rural sales muted: Report

Car makers witness record sales on Dhanteras; Oct bookings up by 30%

State not empowered to frame rules for motor driving schools: HC

Delhi: Commercial vehicle owners may soon receive challans on WhatsApp

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Balasore tragedy result of composite negligence of railway officials: Orissa High Court

Actress Kasthuri stokes controversy by her remarks on Telugu-speaking people in TN

Three convicted for 2016 Kollam collectorate blast case

Expect Canadian government to ensure justice, uphold rule of law: PM Modi

Group clash in Indore after argument over bursting firecrackers: NSA slapped against 2 accused

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.