Hero Electric has joined hands with Wheels EMI Private Limited to offer easy financing options for the purchase of electric two-wheelers in India. According to Hero Electric, the currently sells over 10,000 electric two-wheelers every month, of which 40 per cent comes from rural pockets of India. With this partnership, the company expects sales volumes to increase, and is projected to double them over last year. This partnership also offers extra benefits to Hero Electric customers like attractive interest rates, flexible tenure options and affordable EMIs as per customer eligibility. As a Preferred Financial Partner, Wheels EMI will provide Hero Electric customers with simple and fast disbursals with minimum documentation.
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Sohinder Gill, CEO, Hero Electric says the partnership will offer Hero Electric to reach new markets and acquire new customers to enable them with a cleaner mode of personal transport.
Elaborating on Hero Electric's latest two-wheeler retail finance partnership, Sohinder Gill, CEO, Hero Electric said, "Over the last few weeks, the awareness and demand for electric two-wheelers has been at its peak. The reasons could be varying, ranging from the revised FAME II and state policies to rise in fuel prices. More and more customers today are enquiring and considering electric two-wheelers as their next upgrade. There is also a demand for flexible finance options, especially from rural India to own their favorite two-wheeler. WheelsEMI is a leader in electric two-wheeler financing and understands the credit requirement of rural households. This partnership is a step forward to for us to achieve our goal of clean and emission free mobility and reaching the un-fragmented markets of the country and enable them with a cleaner mode of personal transport."
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Hero Electric offers a range of high-speed and low-speed electric scooters to customers
Karunakaran V (Co-Founder and JMD), Wheels EMI said, "WheelsEMI is a specialist in two wheelers and focusses on Electric two wheelers and rural customers, along with other services for 2w customers. This partnership gives us the opportunity to make dual impact in the life of unbanked and rural customers by offering finance for Hero Electric two wheelers. Along with Hero Electric we are committed to make rural India green."
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Hero Electric is one of India's oldest and the largest electric two-wheeler company, with its manufacturing unit in Ludhiana. The company currently has over 700 sales and service outlets spread across the country along with a widespread charging network and trained roadside mechanics. WheelsEMI Pvt Ltd is India's first two-wheeler life cycle management company offering a range of affordable solutions along the two-wheeler ownership-ridership lifecycle, driving mobility for working families including financing to purchase new and pre-owned two wheelers.
