Kinetic Green Energy, Chola join forces for EV financing
Electric vehicle manufacturer Kinetic Green Energy has announced its partnership with Chennai-based Murugappa Group's financial services arm Cholamandalam Investment and Finance Company Ltd (Chola) to provide financing solutions to its EV customers.
The Pune-based company said it has signed a preliminary pact with Chola for the customers looking to avail finances to purchase electric vehicles.
The partnership is aimed at making Kinetic Green's battery-operated vehicles more affordable for the discerning and price-conscious buyers with attractive financing solutions as well as catering to newer markets with Chola's pan-India presence, the EV company said.
"This partnership will enable Kinetic Green and its dealers to offer easy and affordable financing solutions to our EV customers, which perfectly fit their needs and repayment abilities.
"With attractive finance options offered under the collaboration, Kinetic Green's customers can be assured of competitive financing solutions for their financial needs. This will further propel the company's electric two and three-wheelers' demand," said Sulajja Firodia Motwani, founder-CEO, of Kinetic Green Power Solutions Ltd. Chola, on its part, said that its collaboration with Kinetic will help the firm take it further to fulfilling its ESG goals.
"This relationship will help us in taking a step closer to fulfilling our ESG goals. Under this alliance, the biggest beneficiaries will eventually be the customers. With our strong network of 1,145 plus branches across India, we aim to offer the customers customized finance packages that would come with speedy, convenient, and transparent processes," said Ravindra Kundu, Executive Director, Cholamandalam Investment and Finance Company Limited.