Hero Electric ties up with Wheels EMI to offer financing options
Date: 01 Sep 2021
Hero
Electric, India’s largest EV two-wheeler company has announced its
collaboration with Wheels EMI Private Limited to offer easy financing options
for the purchase of electric two-wheelers in India.
Hero
Electric currently sells over 10,000 two-wheelers every month, of which 40%
comes from rural pockets of India. With this partnership, the company expects a
rise in sales and is projected to double them over last year by 2021
With
rising fuel prices and modification in the FAME-II subsidies, there has been a
rapid growth in the number of customers who want to become a part of the Green
revolution by opting for an EV two-wheeler. To further facilitate and help
consumers make a quicker buying decision, consumers can now fulfil their dream
of going electric by purchasing a brand new Hero EV through a wide array of finance
options offered by Wheels EMI.
This
partnership also offers extra benefits to Hero Electric customers like
attractive interest rates, flexible tenure options and affordable EMIs as per
customer eligibility. As a Preferred Financial Partner, Wheels EMI will provide
Hero Electric customers with simple and fast disbursals with minimum
documentation.
Wheels
EMI is currently offering lending solutions to Hero Electric’s customers across
10 states covering 42 locations and 60 dealership outlets. Wheels EMI has
extended financial assistance in rural pockets of Uttar Pradesh like Koushambi,
Chandauli, Basti, Maharajganj to name a few and Uttar Pradesh contributes to
almost 60% of the total Wheels EMI business
Elaborating
on Hero Electric’s latest two-wheeler retail finance partnership Mr. Sohinder
Gill-CEO, Hero Electric said, “Over the last few weeks, the awareness and
demand for electric two-wheelers has been at its peak. The reasons could be
varying, ranging from the revised FAME II & state policies to rise in fuel
prices. More and more customers today are enquiring and considering electric
two-wheelers as their next upgrade. There is also a demand for flexible finance
options, especially from rural India to own their favorite two-wheeler”.
“Wheels
EMI is a leader in electric two-wheeler financing and understands the credit
requirement of rural households. This partnership is a step forward to for us
to achieve our goal of clean and emission free mobility and reaching the
un-fragmented markets of the country and enable them with a cleaner mode of
personal transport,” he added.