Hero Electric, India’s most preferred and EV company, announced its partnership with RevFin, India’s fastest-growing advanced digital consumer lending platform, to provide readily available loans to EV riders across India. This partnership strives to create better opportunities for riders who intend to use e2Ws for commercial purposes like e-commerce deliveries, ridesharing, etc.
Both companies have inked an agreement to jointly finance and lease 250,000 e2Ws over the next three years and collaborate with multiple e-commerce, logistics, and fleet operations companies to fulfill the objective. RevFin has a presence in 18 states, including UP, Bihar, UK, Haryana, Uttarakhand, and Jharkhand supporting underserved segments.
Sohinder Gill, CEO, Hero Electric, said, “Fleet electrification by businesses has been one of the key conversations driven by the Government to negate carbon footprint across the country. With the delivery and e-commerce segments growing exponentially, Hero aims to support and steer the EV transition through partnerships to strengthen the B2B segment. This partnership will enable us to provide interested customers with the flexibility to purchase an electric two-wheeler in easy monthly instalments while riding clean mobility. It further enables us to explore different channels to lease and supply our scooters and contribute towards a carbon-free future with EVs."
Commenting on the partnership, Sameer Aggarwal, Founder, RevFin, said, “We are thrilled to partner with a major player like Hero Electric and be a part of the journey towards their vision of transforming the way the future of India rides. Commercial two-wheeler adoption is still low in India, where finance is one of the largest challenges. Through this association, we expect to change this trend and power the Government's plans to increase electric mobility penetration in the country."