After recently announcing a five-year loan plan, Ather Energy, a Bengaluru-based startup, has now made it possible for customers to receive up to 100 percent financing for its electric scooters. To facilitate this, the company has partnered with multiple lenders, banks, and NBFCs, including IDFC First Bank, HDFC Bank, ICICI Bank, Bajaj Finance Ltd, Axis Bank, Hero FinCorp, and Cholamandalam Finance. Due to the revision of FAMEII subsidies for two-wheelers in June, Ather Energy, along with other EV players, has increased prices across its product range.
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The 5-year loan duration and up to 100 percent financing options provided by Ather Energy are innovative strategies to counteract the price hikes resulting from reduced subsidies. According to the company, there has been a significant increase in customers opting for finance options since 2019, which has also facilitated electric vehicle adoption in non-Tier-1 markets. Additionally, Ather Energy is set to launch its more affordable electric scooter, the 450S, on August 3, 2023, starting at a price of Rs 1.3 lakh (ex-showroom). The manufacturer has been teasing the EV on social media platforms, and it is known that it will feature an LCD/TFT dash with Bluetooth connectivity. Stay updated with TOI Auto for the latest updates on the auto sector, and follow us on Facebook, Instagram, and Twitter.
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