Simple Energy has partnered with IDFC FIRST Bank to provide vehicle financing solutions for customers purchasing its electric scooters across India, with the arrangement taking effect immediately. Eligible buyers will be able to access loans through the bank across Simple Energy's authorised dealership network nationwide.
The partnership is aimed at simplifying the purchase process by integrating financing options at the point of sale. Both companies said they will jointly promote financing solutions for customers buying Simple Energy scooters, leveraging the bank's lending capabilities and the EV manufacturer's retail network.
The collaboration comes as financing continues to play a key role in supporting the adoption of electric two-wheelers in India. The companies said the initiative is intended to reduce purchase barriers through streamlined loan approvals and financing options for prospective buyers.
"India's transition to electric mobility will be driven not only by innovation, but also by accessibility. As we continue expanding our retail footprint across the country, it is equally important to make EV ownership more convenient for customers. This partnership with IDFC FIRST Bank will help simplify the purchase journey by enabling easier access to financing," said Shreshth Mishra, Co-founder, Simple Energy.
Simple Energy currently operates 73 outlets across 39 cities, including Bengaluru, Delhi, Hyderabad, Chennai, Kochi, Visakhapatnam, Patna, Bhopal, Agra, Goa and Vijayawada. The company said it plans to expand its retail footprint further with new outlets in Ranchi, Bhubaneswar and other locations in the coming months.
The company currently retails the Simple OneS Gen 2, priced from INR 1.60 lakh (ex-showroom), the Simple One Gen 2 from INR 1.95 lakh, and the Simple Ultra from INR 2.35 lakh (all ex-showroom). Customers will be able to avail financing through IDFC FIRST Bank while purchasing these models at authorised dealerships.