Electric Vehicles

Ather Energy with SBI to provide easy financing options

Written by AnantaSaranNayak

Ather Energy has announced its partnership with SBI to make owning an Ather much easier. As part of this collaboration, SBI will provide easy finance solutions to EV enthusiasts across the country. Customers having pre-approved loan offers from SBI can avail of instant loans at low-interest rates starting from 9.55 per cent per annum. However, this depends on the customer’s credit profile.

Customers can leverage SBI Yono’s app to avail of the loan without a branch visit. This partnership will also allow the customers to avail of loans of up to 85 per cent of the vehicle’s on-road price, subject to the loan eligibility of the customer. After approval, SBI will instantly pay the loan amount to the dealer’s account. To further add to the convenience, SBI will extend offline retail financing options for the customers.

EV Sales On The Rise

These financial schemes are also a great incentive for the customers urging them to opt for electric scooters. The demand is growing substantially for Ather as well. The company has been registering 20 per cent month-on-month growth. Furthermore, with this partnership, Ather will make maximum use of the reach and penetration of SBI to boost its sales and accelerate the adoption of EVs in the country. Automobiles in India are mainly bought with the help of finance schemes. Thus, an attractive loan offering will also enable more customers to tune in. Thus, also propelling the sales of electric scooters.

Ather Energy In India

The EV maker has been one of the major players in the electric scooter segment. To keep up with the growing demand, Ather Energy is now aggressively expanding its EV network. As of now, Ather has installed 325+ fast-charging stations across 38 cities in India. Ather Energy has also forayed itself into the 2nd and 3rd tier cities. For the future, Ather Energy plans to expand to 150+ retail outlets by March 2023.

Also Read: Ather Energy to open 8 new experience centres in Kerala.