To make electric mobility more accessible to clients, Ather Energy, a well-known company in the electric car business, has taken a major step forward. Ather Energy has joined Bajaj Finance, a major participant in the financial industry, to offer convenient loans to their consumers.
The high initial investment required to purchase an electric vehicle is a fundamental obstacle
that this strategic collaboration hopes to overcome. Ather Energy aims to encourage more
participation in the green transportation movement by providing financially accessible
choices through Bajaj Finance.
An agreement between Ather and Bajaj
The agreement introduces flexible loan tenure choices of up to 60 months, reducing the monthly EMI to as low as INR 2999 to facilitate a stress-free transition to EVs and assure convenience of purchase for clients. New customers can acquire EMI approval in less than 5 minutes with Bajaj Finance, the shortest TAT (Turn Around Time) in the business, and existing customers can access 100% on-road finance.
Bajaj Finance Ltd. (BFL), a subsidiary of Bajaj Finserv Ltd, has partnered with Ather Energy, India’s most popular manufacturer of electric scooters, to make it simpler for consumers to acquire loans to purchase electric vehicles. Over the past few years, the electric vehicle market has expanded rapidly.
Ather Energy plans to increase the availability and affordability of electric vehicles (EVs) in India by leveraging Bajaj’s national footprint and market share through cooperation with India’s largest and most varied financial services firms.
A step towards hassle-free loans
Bajaj Finance is a tech-driven NBFC that provides various financial services and prioritizes digitally improving the customer experience. The collaboration’s goals include easing consumers’ minds and drawing attention to the increasing availability of EV finance as the sector expands. Ather’s product has pioneered India’s electric vehicle (EV) ecosystem, inspiring key financial institutions to provide attractive financing options for EV adoption.
Ather Energy Chief Business Officer Ravneet Phokela commented on the agreement, saying, “As a pioneer in the Indian EV 2-wheeler industry, we believe it is our responsibility to ensure ease of purchase for EV intenders without compromising convenience.” Ather has worked with a solid group of financial institutions and will continue to do so to give our customers more advantageous financing options.
Having Bajaj Financing, one of India’s premier financing organizations with a diverse product offering, on board will make it even simpler for our customers to buy our products, which in turn will encourage more people to switch to EVs.
Expanding business and EV all across the nation
Ather hopes to expand both BFL and the EV market by capitalizing on BFL’s large client base of 7 crores. The approval process for an EMI with BFL is the quickest in the business, taking less than 5 minutes for both new and existing customers of Ather.
“We are honoured to work with Ather Energy,” said Mr Amit Raghuvanshi, President of Personal Loans & Sales Finance, Bajaj Finance Ltd. The presence of Bajaj Financepan India is highly complementary to Ather Energy’s expansion goals of providing services to clients nationwide. Other consumers can obtain loans quickly and easily thanks to Bajaj Finance’s comprehensive digital journey and prompt payouts.
Ather Energy was the first electric vehicle original equipment manufacturer (OEM) to release a product with a 48-month warranty in December 2022. Customers’ reactions were largely favorable, showing they are eager to adopt EVs. Ather Energy and Bajaj Finance are pleased to announce the launch of a 60-month product, making EMIs available to clients for as little as INR 2999 per month.
Ather Energy, a major player in the EV market, has just announced cooperation with Bajaj
Finance, a major financial services provider, to offer easy-to-obtain loans to Bajaj Finance
consumers. To make electric mobility available to more people across India, our partnership
intends to lower the initial investment required to purchase an electric vehicle.
Positive and Future Concerns Of EV Partnership
Concerns about global warming and the need to switch to more environmentally friendly
transportation options have increased India’s demand for electric vehicles. However, many
would-be purchasers have been put off by the substantial cash outlay necessary to acquire
an electric vehicle. To combat this obstacle, Ather Energy has partnered with Bajaj Finance
to provide affordable payment plans for anyone interested in purchasing an Ather scooter.
- This collaboration allows Bajaj Finance to offer streamlined financing options for
acquiring Ather electric scooters. Ather Energy is committed to making electric
transportation more accessible and affordable. With its widespread presence and
expertise in offering consumer financial solutions, Bajaj Financial is the perfect
partner for this effort. The two companies are working together to lower the price of
the Ather electric scooter so that consumers of all backgrounds and economic levels
may purchase one, hastening the spread of EVs across India.
- With its cutting-edge technology and sleek designs, Ather Energy has established a
strong presence in the electric scooter market. Their scooters have achieved
widespread acclaim due to their reliability, efficiency, and innovative design. Ather
Energy hopes to improve the shopping experience for its consumers by working with
Bajaj Finance to take advantage of Bajaj’s financial knowledge and provide them with
individualized financing plans.
- The ease with which people can obtain loans to purchase other scooters is likely to
affect the market penetration of electric cars in India profoundly. Potential purchasers
who were put off by the high cost of entry can now enjoy the advantages of electric
mobility thanks to accessible financing options. Because of this collaboration, more
people in India will enjoy the benefits of electric scooters, including their practicality,
low operating costs, and low environmental impact.
- There is promising potential for the partnership between Ather Energy and Bajaj Finance to increase the uptake of EVs in outlying areas and smaller cities, where price has been a barrier to entry. With Ather Energy’s focus on growing its footprint beyond major cities and Bajaj Finance’s wide network and penetration in these areas, clients from all over India will have access to reasonable financing alternatives for purchasing an Ather scooter. This is a major step in expanding access to electric mobility and fostering the development of environmentally friendly modes of transportation across the country.
Ather Energy and Bajaj Finance have allowed more people to acquire Ather scooters, a
major step forward for the electric vehicle industry. Buyers may now get over the first cost
barrier and opt for a greener means of transportation thanks to the availability of simple
loans. The goals of both organizations are aligned with this partnership to minimize carbon
emissions and advance environmentally responsible transportation methods. Ather Energy
and Bajaj Finance have made a major step in accelerating the adoption of electric vehicles
and establishing a better, cleaner future for all by increasing access to affordable financing