Hero Electric signs EV financing pact with Cholamandalam

News | 31 May 2022

Hero Electric has entered into a partnership with Cholamandalam Investment and Finance Company Ltd. (Chola), the financial services arm of Murugappa Group, to offer easy and smart financing for electric two-wheelers.

The collaboration aims to make Hero Electric scooters more affordable for the discerning and price conscious buyers with attractive financing solutions. This partnership will enable Hero Electric to cater to newer markets with Chola’s widespread presence across the country, it said in a statement.

“With our easy and innovative financing options, we look forward to make EV adoption easier for Hero Electric’s two-wheeler buyers. This partnership will also give us a strong foothold in the EV financing space with our 1,145 branches spread across urban, semi-urban and rural markets, said Ravindra Kundu, ED, Chola.