Ather offers 100% on-road financing, with penetration of finance increasing sixfold since 2019

News comes after Ather introduced a 60-month loan product with monthly EMIs as low as Rs 2,999.

Autocar Pro News Desk By Autocar Pro News Desk calendar 14 Jul 2023 Views icon4284 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Ather offers 100% on-road financing, with penetration of finance increasing sixfold since 2019

Ather Energy, which has increased overall finance penetration by 6X since 2019, has taken another step forward by announcing 100% on-road financing for its EV 2-wheelers.

This comes after the Bengaluru-based electric scooter manufacturer introduced a 60-month loan product, resulting in monthly EMIs as low as Rs 2,999, in collaboration with IDFC First Bank, HDFC Bank, Hero FinCorp, Bajaj Finance, Axis Bank, and Cholamandalam Finance for its customers.

"Lucrative vehicle loan products are a vital enabler for India's growing two-wheeler industry," stated Ravneet Phokela, Chief Business Officer, Ather Energy." We have been able to offer competitive financing solutions to our consumers since its inception, thanks to partnerships with prominent retail companies, banks, and NBFCs," he added. 

Ather has further said that customers have also shown a strong preference for Loan-to-Value (LTV) financing, with 85% funding being the most favoured option.

According to Ather, customers have a strong preference for Loan-to-Value (LTV) financing, with 85% funding being the most popular option.

RELATED ARTICLES
Kinetic Green prepares for post FAME subsidy regime with new Zulu EV with subscription model

auther Autocar Pro News Desk calendar11 Dec 2023

Sulajja Firodia Motwani, Founder and CEO, Kinetic Green stated that the company is preparing for the time when the gover...

Continental and Synopsys collaborate to propel software development for SDVs

auther Autocar Pro News Desk calendar11 Dec 2023

Integration of Synopsys' virtual electronic control unit (vECU) solutions with Continental’s cloud-based development env...

BMW India announces up to 2% price hike across models from January 1, 2024

auther Autocar Pro News Desk calendar11 Dec 2023

The company cites the decision as a response to various factors, including evolving dynamics, exchange rate fluctuations...