Hero Electric collaborates with RevFin to lease 2.5 lakh electric vehicles

Hero Electric has announced a strategic partnership with RevFin, an advanced digital consumer lending platform, to provide easy loans to EV riders across India. Under the new partnership, the company aims to come up with better opportunities for riders who intend to own an electric two-wheeler. One of the key highlights is that the JV has inked an agreement to jointly finance and lease 250,000 electric two-wheelers by 2025. The JV also targets several e-commerce, logistics, and fleet operations companies in order to achieve this aim.

RevFin already operates in 18 Indian states including UP, Bihar, Haryana, Uttarakhand, and Jharkhand, and aims to further extend its reach beyond these states in the years to come. “Fleet electrification by businesses has been one of the key conversations driven by the Government to negate carbon footprint across the country. With the delivery and e-commerce segments growing exponentially, Hero aims to support and steer the EV transition through partnerships to strengthen the B2B segment," said Sohinder Gill, CEO, Hero Electric.

Hero Electric has announced several similar partnerships in the past to catalyze the sales of EVs in the Indian market. “This partnership will enable us to provide interested customers with the flexibility to purchase an electric two-wheeler in easy monthly installments while riding clean mobility. It further enables us to explore different channels to lease and supply our scooters and contribute towards a carbon-free future with EVs," Gill added.

The company recently joined hands with Statiq to strengthen mobility and charging network for EV users in the northern belt of the country.