Godawari Electric Motors, manufacturer of the Eblu range of products, has collaborated with IDBI Bank to avail exclusive financing options for its customers across India.
The new partnership with IDBI Bank avails access to loans with a maximum tenure of 3 years, at an 11% rate of interest, and a low processing fee of 1%. The maximum LTV offered under this financing option is 80%.
Hyder Khan, CEO, Godawari Electric Motors, said, “Our journey to provide state-of-the-art e-mobility solutions continues, and we are certain that this innovative offering, which avails instant loans, will create new opportunities for customers to make the transition to green mobility quicker.”
The company currently has existing tie-ups with SIDBI, Bajaj FinServ, Kotak Mahindra Bank, Paytail, EZFINANZ, Chhattisgarh Gramin Bank, Revfin, Amu Leasing, and Paisalo, to cater to customer requirements and offer a wide range of EV financing solution options with a hassle-free loan application and approval process.
The company is preparing to launch its e-scooter Eblu Feo and e-loader Eblu Reino in August 2023. It has invested significantly in network expansion and will aim to have 100 dealers by the end of this fiscal.