Ola Electric partners with Shriram Finance for EV finance

Ola Electric partners with Shriram Finance for EV finance



Ola Electric, India’s largest electric two-wheeler company, has partnered with Shriram City Union Finance to offer its customers attractive financing options.

The EV manufacturer claims that by partnering with Shriram City Union Finance, it will be able to offer interest rates as low as 8.99% for a 48-month term, with approvals guaranteed in minutes.

Shriram City Union Finance is one of India’s leading NBFCs and one of the country’s largest financiers of two-wheelers, with approximately 2,800 branches spread across urban and rural pockets.

Ankush Aggarwal, Chief Business Officer, Ola said, “As we expand our retail footprint beyond Tier I cities, we are focused on making financing solutions easy and accessible for all. With our partnership with Shriram City Union, we aim to break financial barriers and make electric mobility a reality for customers. We are confident that it will pave the way for accelerating EV adoption across the country.”

Potential Ola customers can take advantage of these financing options both online and offline by visiting their nearest Experience Center for a detailed download on financing options before finalizing their purchase via the Ola app.

Ola currently has over 850 Experience Centres in its retail network and plans to open the 1,000th in August.

The S1 lineup, which includes the S1 Pro, S1, and S1 Air, features a sleek and minimalist design combined with cutting-edge technology and performance. Ola is also the market share leader in the electric two-wheeler segment, with nearly 40% market share.

Earlier, Ola Electric has recently announced that it would set up an EV Hub in Tamil Nadu that would house advanced cell and EV manufacturing facilities, vendor and supplier parks, among others. The EV Hub would become one of the largest ancillary ecosystems for electric vehicles at a single location. Ola Electric is also planning to build a battery cell factory in India with a capacity of up to 50 GWh by 2023 and is in talks with multiple global suppliers for the same

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Content Credit: Financial Express