Hero Electric partners with Chola to offer affordable financing for e-2Ws

Leading electric two-wheeler manufacturer Hero Electric in partnership with Cholamandalam Investment and Finance Company Ltd. (Chola) will be offering easy and smart financing options for Hero Electric's electric scooters, the company announced today.

The latest collaboration is aimed at making Hero Electric e-2Ws more affordable in an otherwise price-sensitive Indian EV market and will be focused on offering attractive financing options to buyers.

"With our easy and innovative financing options, we look forward to making EV adoption easier for Hero Electric's two-wheeler buyers. This partnership will also give us a strong foothold in the EV financing space with our 1,145 branches spread across urban, semi-urban, and rural markets, said Ravindra Kundu, ED, Chola.

Chola, the financial services arm of Murugappa Group, with its pan-India financing presence provides vehicle loans, home loans, and rural and agricultural loans among other financial services.

"This partnership will enable Hero Electric to cater to newer markets with Chola's widespread presence across the country," Hero Electric stated in a statement.