Hero Electric Partners with Shriram City Union Finance

• Published On: 14 January 2022
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It will enable customers to avail a fully digital and paperless loan procedure

Hero Electric has partnered with Shriram City Union Finance to facilitate loan schemes for the electric 2-wheeler buyers. This collaboration would result in attractive financing solutions and make the e-scooters more affordable. It will enable customers to avail a fully digital and paperless loan procedure with on-the-go financing options available 24 hours across the country. Customers can opt for physical assistance or online financing options across all 750+ Hero Electric touchpoints for a hassle-free experience.

Mr. Sohinder Gill, CEO, Hero Electric, said, “The changing market scenario and increased preference for the electric vehicle, we have realized the need for strong finance schemes to boost the EV shift. Easy and preferred financing schemes will further favour the green mobility shift leading to a seamless ownership experience. The association will promote easy accessibility and availability of innovative financial products to our customers at the best rates and minimum documentation. Alongside government subsidies in place, priority financing for EVs will create convenience for our buyers, across levels.” This collaboration will strengthen Hero Electric’s vision to transform the mobility sector in India by fore fronting the EV shift.

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Adding to this, YS Chakravarti, MD & CEO, Shriram City Union Finance said, “Shriram City is a leader in the 2W lending space and we believe the next wave of growth for the sector will be driven by the mammoth opportunity created in EVs. The demand drivers for EVs are the rapid urbanization, high cost of petroleum products, the growing sentiment for pollution control, rising need for social distancing, along with favoring policy. We are partnering with the best and are pleased to announce a partnership with Hero Electric. The shift to electric mobility has become inevitable and Shriram City’s financing options will make EV adoption easier.” Hero Electric offers a wide product portfolio catering to differentiated customer commuting demand.