CASHe has unveiled 'CASHe Green,' a new initiative aimed at boosting electric two-wheeler (e2W) adoption through tailored financial solutions. CASHe Green distinguishes itself by offering financing options that are not only accessible but also customer-centric. The program allows for loans up to INR 2 lakh, covering not just the purchase of new e2Ws but also essential ownership costs like battery replacements and system upgrades.
The launch of CASHe Green comes at a time when the electric two-wheeler market in India is witnessing exponential growth. In 2023, electric two-wheelers accounted for 62% of total electric vehicle sales in the country, with sales reaching a record high of 866,853 units. This represents a 33.5% increase from the previous year, propelled by substantial government subsidies under the FAME II scheme and the emergence of innovative startups in the sector.
Yashoraj Tyagi, CEO of CASHe, emphasised the dual benefits of CASHe Green, stating, “CASHe Green is not just a financial solution but a platform to foster sustainable transportation. By aligning our services with the financial and environmental aspirations of our consumers, we aim to facilitate a larger shift towards eco-friendly mobility.”
CASHe has partnered with three leading two-wheeler OEMs to ensure that users receive a seamless digital financing experience. This collaboration enables instant credit approvals and comprehensive finance solutions, directly integrating with the sales processes of these OEMs.
The two-wheeler EV market is projected to grow significantly, with NITI Aayog estimating its value could reach between INR 35K Cr and INR 40K Cr by FY26. The financing market for this segment is expected to surge to INR 13K Cr-INR 15K Cr, highlighting the substantial economic opportunity in e2W adoption.