The partnership with the Non-Banking Financial Company (NBFC) is to provide easy financing options for the purchase of Hero Electric scooters.
Hero Electric, India’s leading electric two-wheeler company has announced a partnership with HDB Financial Services, a Non-Banking Financial Company (NBFC) to provide customers with easy financing options to purchase an electric scooter. According to a statement from Hero Electric, the collaboration will enable customers to avail hassle free loans with minimum documentation on their desired electric scooter. The financing options through HDB Financial Services will be available to Hero Electric customers across the company’s network of over 700 dealerships. HDB will also offer eligible customers benefits like attractive interest rates, flexible tenure options and affordable EMIs.
Speaking on the partnership, Sohinder Gill, CEO, Hero Electric, said, “Electric two wheelers will become the vehicles for masses in the future and, easy financing is one of the essential cogs in the wheel. We at Hero have a basket of financiers offering a wide choice of ownership options to suit one’s requirements. We also provide tailor made financing options for B2B customers to take off the burden of upfront Capex while adopting cleaner mobility solutions from Hero. Our partnership with HDB Financial Services is a step forward to offer easy and seamless financing options beyond Tier-1 cities to promote clean and green commuting. We are confident that this collaboration will help our customers to substantially save on their commuting costs without having to spend upfront.
Karthik Srinivasan, Chief Business Officer, HDB Financial Services said, “Nowadays customers are increasingly considering eco-friendly transport as their next purchase. Through this collaboration, HDB will offer flexible and easy financing options for customers across the country to join the electric vehicle revolution. We believe that this partnership will play a significant role towards creating a more sustainable tomorrow.”
Hero Electric is committed to transforming and spearheading the electric mobility shift in India with its varied product offering under city speed and low-speed scooters. It is working towards easing purchases and making electric scooters more affordable through its partnership with HDB. Hero Electric is one of the oldest and India’s largest electric two-wheeler company, with over 4,00,000 customers, more than 700 dealerships, and a wide product range. The company’s manufacturing facility is located in Ludhiana, and Hero Electric has been delivering sustainable electric solutions for over 14 years.