Electric Vehicles

Ather Energy with HDFC & IDFC First Banks to provide easy loans

Written by Nayak

Ather Energy has tied up with HDFC and IDFC First Banks to enable seamless financing options. Under this partnership, Ather Energy customers can get instant loans from HDFC and IDFC First banks.

Key Features The Financing Options

This scheme will ensure low-interest rates and a maximum LTV (Loan-to-value). Ather Energy mentioned that customers have preferred a 95 per cent LTV option while choosing a financing option. This, when spread over a period of 2 to 3 years, gives the customers enough room for repayment. IDFC has been a keen supporter of Ather Energy. As of today, about 75 per cent of Ather Energy’s customer base finance from IDFC bank. To further enhance the experience, IDFC and HDFC banks both offer loans to new-to-credit customers (those with no credit history). Thus helping close to 20 to 25 per cent of the overall Ather customer base. The EV maker mentioned that loans to new-to-credit customers schemes are getting quite popular in Tier 2 and 3 cities.

Ather Energy – The Road Ahead

With the future looking quite promising for EV makers, Ather Energy has a lot to work on. The company has leveraged its early mover advantage and gained substantial popularity in the country. Both its offerings, the 450 X and 450 Plus, are selling in good numbers. In the past 2 years, a lot has happened in the EV segment, and we expect the same to continue in the future as well. Ather Energy is doing all it can to make owning an EV a hassle-free experience.

Starting with the buying experience till the long term ownership, Ather Energy is keen to help its customers in every aspect. These financial offerings go a long way in proving Ather Energy’s dedication towards its customers. In addition to this, the EV maker is also increasingly expanding its charging infrastructure. As of today, Ather has installed 310+ fast-charging stations across 30 cities in India, including tier-II and tier-III cities. This will help EV owners in the long term to help mitigate the prevalent issue of range anxiety.

Also Read: Ather Energy & Bharat FIH to develop & manufacture key components for Ather scooters.