Ather Energy has announced its partnership with IDFC bank to offer its customers what it claims as a first-in-the-industry EV financing option.
The scheme allows customers to purchase an Ather 450X or a 450 Plus with a down payment as low as 5% of the on-road price applicable in the respective city. However, for the first time in the E2W space, IDFC is offering all this at a 48-month loan tenure, noted Rishi Kant Mishra, Business Head - Vehicle Loans, IDFC.
Ravneet S Phokela, Chief Business Officer, Ather Energy, believes that attractive financing plans and new financial models around adoption will play a crucial role in the next phase of growth for the industry.
“Now a customer buying an Ather 450X with this scheme would have the same monthly expense as that of owning a 125cc scooter, making our scooters more accessible for a wider customer base across the country,” he said.
Ather is the first OEM in the industry to receive a 48-month loan tenure for its scooters. The Hero MotCorp-backed start-up registered its highest-ever monthly sales by delivering 8,213 units in October 2022.
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