by Suman Gupta
The partnership will offer up to 100% LTV scheme for its two-wheeler customers
Pune, 8 September 2023: Kinetic Green Energy and Power Solutions Limited, a leading manufacturer of electric two- and three-wheelers in India, today, announced its strategic partnership with Axis Bank one of India’s largest private sector banks, to offer accessible and cost-effective financing options to its two-wheeler electric vehicle (EV) customers. The MoU was signed by Mr. Ritesh Mantri, Co-Founder and Director – Kinetic Green and Mr. Irfan Tamboli, Senior Vice President and Head – Supply Chain Finance, Axis Bank.
Under this strategic partnership, two-wheeler customers can now avail up to 100% funding for on-road price, which is a best-in-class financing solution specifically designed to make the entire buying process seamless and hassle-free. The alliance will offer competitive interest rates with flexible financing tenures that will extend up to 48 months, making the EMI options more affordable. Customers can avail these lucrative financial solutions across Axis Bank’s 4500+ pan – India branches and redeem the benefits at Kinetic Green’s extensive network of 300+ two-wheeler dealerships that is spread across 25 states in the country.
Sulajja Firodia Motwani, Founder and CEO of Kinetic Green, stated, “We are delighted to collaborate with one of India’s largest and most reputed banks, Axis Bank. Just as customer satisfaction is a top priority for Axis Bank, it holds similar importance for us at Kinetic Green. Together, we aim to provide the best EV financing solutions to the nation, enabling the realization of the dream of sustainable mobility. I am also pleased to announce that this scheme will be extended to our highly anticipated two-wheeler, E-Luna. With this alliance, we are confident in reaching our advanced yet affordable EVs to customers across urban and rural landscapes of India, thus accelerating the widespread adoption of electric vehicles.”
Commenting on the strategic tie-up with Kinetic Green, Mr. Sumit Bali, Group Executive, Head – Retail Lending and Payments, Axis Bank., said, ‘We are glad to partner with Kinetic Green, one of the industry leaders in this space all set to revolutionize the EV industry in India. Green mobility is the need of the hour and each step taken to bolster it will go a long way in protecting the future generations of the country. Axis Bank is deeply committed towards driving the objectives of Green Mobility and Green Financing, and through this partnership we will continue to promote sustainable practices and encourage adoption of electric vehicles amongst the masses.’’
Customers across regions will benefit from this remarkable initiative, especially in the upcoming festivals including Raksha Bandhan, Ganesh Utsav, Navratri, Dussehra and Diwali. This strategic move is a significant stride towards realizing Kinetic Green’s vision of making Green Mobility accessible to a wider section of the country.
For more information about the financing scheme or to explore Kinetic Green’s electric two-wheeler range, please visit any authorized Kinetic Green dealerships or nearest Axis Bank branch.
About Kinetic Green: Kinetic Green, the latest venture from Kinetic & Firodia Group, today is a leading player in the Electric Vehicle space offering a wide range of electric vehicles, including electric scooters, electric three-wheelers, both cargo and passenger, under the Kinetic Green brand and electric golf-carts and buggies in partnership with world’s leading brand, Tonino Lamborghini of Italy. Spearheaded by third generation scion of the Firodia family, Ms. Sulajja Firodia Motwani, the company has successfully designed, manufactured, and cumulatively sold over 80,000 electric vehicles and crossed sales of over INR 800 Crores.
The mission of Kinetic Green is to provide green mobility to the Masses. Kinetic Green has had several firsts to its name, including being the 1st company to develop ARAI approved electric 3-wheeler and the 1st to offer Lithium-ion battery technology on their e-3w in India.
