Bike News Electric Vehicles News

Ather 450 Series EV available with 100% on-road financing

Written by Kanad Kalasur

Popular electric scooter Ather 450 is now available with upto 100 percent on-road finance. To this end, Ather has parted with leading banks and NBFCs like IDFC First Bank, HDFC Bank, ICICI Bank, Bajaj Finance Ltd, Axis Bank, Hero FinCorp, and Cholamandalam Finance. According to the scheme, eligible customers will get a 60 month loan.

Details of the 100 percent finance scheme

With the recent reduction in EV subsidies, Ather wants to make it that much more easier for its customers to acquire a new electric scooter.

Over the years, Ather claims that there is a higher number of customers opting for finance. The overall jump in finance penetration has gone up by 6 percent since 2019. Thanks to availability of loan partners, even the rural markets have witnessed an increase.

Recently, the company was the first two-wheeler OEM to offer a 60-month tenure EMI scheme. Under this, the EMI is as low as INR 2,999. Meanwhile, customers are prefering an 85% funding option.

Ather 450S : More Details

While the 450S is visually similar to its siblings, the 450X and the 450X Pro Pack, there are a few changes. The main changes include a smaller 3 kWh battery pack. This has led to a claimed range of 115 km under the Indian Driving Conditions. However, the top speed of the scooter has remained the same at 90 km/h.

Price revision of the 450X range

Recently, the government of India announced a change in FAME II subsidy amount. Due to this, Ather revised the prices of the 450 range of electric scooter. Now, the 450X is available from INR 145,000 while the 450X Pro Pack will set back users by INR 165,000. These are ex-showroom Bangalore prices. The revision occurred due to the decision of the government to revise the FAME II subsidy amount to INR 10,000 per kWh with a maximum limit of 15 percent of ex-showroom amount.

Also Read РAther launches India’s 1st 60 month loan for EV two-wheelers.