In a bid to help consumers get electric vehicles (EV) financed, Jitendra New EV Tech (JEV) has partnered with digital Fintech NBFC, Eduvanz. The partnership has been announced at a time when EV financing continues to be a major hurdle in the adoption of electric vehicles in India.
The duo will be offering EVs on finance schemes spanning 24 months (24 EMIs), noted Ashwin Natarajan, VP – Business Development, Eduvanz. He said, 'Our easy and affordable finance solutions make sure that customers can go ahead and buy exciting new JEV electric scooters without a worry.' Eduvanz finances EVs to eligible consumers at a rate of 11% per annum.
In CY22 YTD, Jitendra EV has sold 4,217 electric scooters. Operating under the umbrella of Shah Group, Jitendra EV sold its most EVs (1,034) in the month of March 2022, whereas its June sales accounted for just 548 EVs.
Several experts believe the EV fires related to electric two-wheelers are the reason behind the declining sales of new EV OEMs like Jitendra EV. The company’s range of e2Ws includes a total of 10 models, while its network comprises more than 150 touch points in India.