Hero Electric partners with AU Small Finance Bank for easy financial solutions

News | 17 August 2022

Hero Electric, a leading electric two-wheeler company, on Tuesday announced partnership with AU Small Finance Bank to provide easy financing solutions for its e2Ws. Hero Electric aims to enhance the financing process for its customers by providing seamless and easy loan solutions along with online assistance, the company said in a release.

Customers can benefit from its unique financing option with customized EMIs as per their needs. Hero has 14 products in its portfolio catering to varied customer requirements.

Sohinder Gill, CEO, Hero Electric, said, “Electric two-wheeler segment is estimated to see 100% penetration in the Indian market by 2027, making financing solutions an imperative need. Our partnership with AU Small Finance Bank is a step towards smoothening the financing procedure for our customers and enhancing their purchase experience. With easy instalments and customized offers, customers will be able to make a hassle-free EV switch. We are committed towards the mission ‘Zero Emission’ and are working to achieve carbon-free mobility through partnerships/collaborations.”

According to Bhaskar Karkera, Chief of Wheels, AU Small Finance Bank, in the last few years, as the emphasis on adoption of electric vehicles grew, the company consciously decided to focus on this segment. “Also, as an organization focused on growing sustainably, this will help us contribute towards reaching the NDCs (Nationally Determined Contribution). This association with Hero Electric is a significant step in furthering this objective,” he added.

Hero Electric has partnered with various NBFCs and financing institutions to hasten EV adoption in the country.