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Ola Electric ties up with lenders to aid purchases
Ola Electric on Monday said it has tied up with leading banks and financial institutions, including HDFC Bank, ICICI Bank, Kotak Mahindra Prime and Tata Capital, for providing loans to customers for its S1 electric scooter that will be available for purchase from September 8.
By
migrator
migrator
Mumbai
The company, which had last month launched the Ola S1 electric scooter in two variants, S1 and S1 Pro – at prices Rs 99,999 and Rs 1,29,999, respectively (ex-showroom including FAME II subsidy and excluding state subsidies), said it will start deliveries in October.
“We have tied up with all the major banks and (financial) institutions...we will have many of them live starting September 8 and then others will be live soon after,” Ola Electric Chief Marketing Officer Varun Dubey said.
The banks and financial institutions that Ola Electric has tied up include Bank of Baroda, Axis Bank and HDFC Bank.
Dubey said as consumers will be buying online the entire process is going to be “very seamless” and all those who choose financing should be able to avail of the option.
“They will be able to also get all the details in terms of what is the loan approval amount they have, what they need to do...Also, we have got very attractive financing options, with the EMI starting at just Rs 2,999 for S1...,” he added.
Asked about the delivery plans for the scooters, Dubey said from September 8 onwards, people who have reserved can convert that to a purchase by paying the remaining amount and finalise vehicle variant and colour options.
“Then we will start deliveries for them from October onwards. We will actually take the scooters to their doorsteps,” Dubey added.
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