BLive Partners With OTO Capital To Facilitate EV Financing

Multi-brand electric vehicle (EV) store BLive has partnered with OTO Capital to offer easy financing solutions for electric two-wheelers. BLive has both online and offline presence, and OTO Capital is a platform providing affordable finance plans. The partnership between the two brands will cover sale, marketing and promotion of multiple two-wheeler EV brands on lease model on the BLive platform, a joint statement said. The partnership will be spread over 12 months and will apply to all models of electric scooters and e-bikes available at the BLive store.

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BLive Co-founders Samarth Kholkar and Sandeep Mukherjee at the launch of the BLive Hyderbad store

Commenting on the announcement, Samarth Kholkar, Co-Founder, BLive, said, "As India's first EV experience platform, our vision is to offer customers easy and affordable ways to explore, experience and purchase e-scooters and ebikes. With a vision that EVs will replace the fuel vehicles soon, we have partnered with the leader in vehicle leasing. We firmly believe that our partnership will cater to the demand for EVs and help in adoption of the category in India, giving a boost to the industry."

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Sumit Chhazed, Co-Founder and CEO of OTO Capital, said, "We are thrilled to announce our partnership with India's leading EV Experience platform, BLive. EV financing has been a challenge in the country and one of the key roadblocks in EV ownership. Our vision is to bring in better options of commuting, while helping customers with easy financing options. We look forward to our partnership and helping people own their dream electric vehicle like never before."

OTO Capital aims to provide affordable finance plans, and claims to offer 35 per cent lower EMIs than banks. Customers can choose from several EV brands, including Kinetic Green, Techno Electra, BattRE, LML-Detel and other EV brands available on BLive stores. Under the agreement, OTO Capital will finance the vehicle on a lease basis and BLive will be the single point of contact of the transaction between OTO Capital, the manufacturer and customers.