Hero Electric said on Monday that it had joined forces with Cholamandalam Investment and Finance Company to provide retail financing for electric two-wheelers. The electric two-wheeler maker said that the partnership would allow the company to cater to new markets with Chola’s widespread presence across the country.

“Voluntary market conditions and an increased preference for sustainable transportation require strong financing programs to encourage the transition to electric vehicles. Simple and preferred financing options will further facilitate the transition to green transportation,” Hero Electric CEO Sohinder Gill Says. for a seamless ownership experience.

He added that the association would have easy access to new untapped markets with the best prices and minimal documentation.

“The transition to electric vehicles is steadily becoming an inevitable reality. With our simple and innovative financing package, we look forward to making electric vehicle adoption easier for Hero Electric’s two-wheeler buyers,” said Cholamandalam Investment and Finance Company Kundu Executive Director Ravindra.

He noted that the partnership would also give the entity a foothold in EV financing, with 1,145 branches in urban, semi-urban and rural markets.