Chennai based Deccan Finance announced its partnership with Greaves Finance to offer loans for Ampere Electric Vehicles at subsidised rates to 1,000 working women and students through its ‘Ride-Two Wheeler Loans’ platform.
In the initial stage, the scheme will be rolled out in Tamil Nadu and Karnataka, the company stated.
Additionally, the partnership will be extended to Telangana and other markets in India in a phased manner to enable customers to own an electric two-wheeler at a competitive interest rate, a press release from the company stated.
The platform will finance all two-wheelers that include new, used and electric two-wheelers also hybrid bicycles, using digitisation, the company said.
Rajesh Rao, Whole Time Director, Deccan Finance, said, “Under “Ride Electric – Two Wheeler Loan” Deccan Finance will fund most EV, especially low speed, to empower middle-class masses to fulfill their dream of mobility.”
The 40-year-old NBFC launched the Ride Two Wheeler Loans brand in April 2021. At present, the brand has a presence in over 100 cities, the release added