Hero Electric has partnered with the State Bank of India to offer its buyers financing options. As a result, buyers will be able to bring down the effective price of electric vehicles by taking advantage of the offer. Hero Electric scooters can also be bought at “lowest interest rates across India.”.
SBI’s digital banking platform, YONO, offers an additional Rs 2,000 off to Hero Electric buyers in a statement shared by the company. Customers can apply for a paperless and fully digital two-wheeler loan with just a click. Furthermore, Hero Electric announced that physical assistance and offline financing will be available across all of their 750+ touchpoints.
Sohinder Gill, CEO of Hero Electric, commented on the partnership, “There is strong demand for electric vehicles today and we are glad to partner with SBI to streamline the purchase process.”. This partnership will provide customers with the best interest rates and unique offers to drive the green mobility revolution. The customers are looking for lucrative deals and schemes to make the shift and invest in an electric two-wheeler. We are committed to providing seamless service to our customers across our dealerships with State Bank of India’s extensive network.”
In addition, Devendra Kumar, Chief General Manager (Personal Banking Business Unit) of SBI said, “We are glad to work with the two-wheeler EV market leader and provide customers with the best financing options. Under SBI Easy Ride, SBI customers can avail an instant digital two-wheeler loan for Rs 251/- per Rs 10,000 for 4 years. The initiative helps the bank contribute to the country’s green mobility revolution by making EVs affordable..”
Federation Of Automobile Dealers Associations (FADA) has disclosed that Hero Electric has been a top seller in the category of electric 2-wheelers. Okinawa Autotech overtook Hero Electric in EV sales in December, but Hero Electric regained the pole position this month. During the month of January, Hero Electric sold 7,763 units. Okinawa slipped to the second spot with sales of 5,613 units of EVs.