Greaves Cotton Announces EV Financing Through Greaves Finance

Greaves Cotton, one of India's leading and diversified engineering companies, has enhanced easy access to financing options for electric vehicles through its subsidiary Greaves Finance. According to the company, Greaves Finance will deploy artificial intelligence-enabled analytics to offer customised retail financing options and quick disbursal of loans which allow consumers easy access to electric two-wheelers. Greaves Finance will also provide retail financing options by using strategic co-lending partnerships with various financial institutions.

Also Read: Ampere Electric Records Best-Ever Retail Sales In August 2021

Ampere Electric is rapidly expanding its dealership footprint across India, and is seeking to establish itself as a complete EV ecosystem, offering electric two-wheelers and three-wheelers.

Speaking on the announcement, Ravindra Pathak, Head Greaves Finance, Greaves Cotton Limited, said, "The transition towards EVs is easy only when there is an enabling ecosystem. Keeping this in mind, Greaves is prepared to be the facilitator that enables people to make the right choice, enhancing access to good mobility for people at the bottom-of-the pyramid while providing hassle-free and customised financing solutions to customers opting for electric vehicles. Towards this, we have banked on our superior technology infrastructure and understanding of the market to create a complementary AI enabled tech environment that will significantly improve the customer experience while accessing our products."

Also Read: Ampere Electric Announces Experience Centre In Tamil Nadu

Ampere Electric has launched an experience centre in Ranipet, Tamil Nadu

The announcement of offering tailor-made finance options for electric two-wheelers comes even as there's rapid transformation in the personal mobility preferences with significant demand emerging from non-metro regions. With favourable government policies under the Faster Adoption and Manufacturing of Electric Vehicles (FAME-II) scheme, electric vehicles are becoming more attractive for customers. According to Greaves, there has been a higher demand for EV financing from both retail and bulk buying segments.

Also Read: Ampere Electric Vehicles Achieve 1 Lakh Sales Milestone In India

Greaves Finance is among the first few players in the industry to curate an easy affordable financing ecosystem for prospective EV buyers. With easy approvals and quick loan disbursements, Greaves is accelerating the process of owning personal electric vehicles and becoming a part of the EV revolution in the country. Greaves Cotton is the parent company of Ampere Electric, which is now building a comprehensive EV ecosystem, including electric two-wheelers, and three-wheelers.