Kinetic Green joins hands with IndusInd Bank for lucrative financing scheme for electric vehicles

Leading EV makers Kinetic Green Energy and Power Solutions Limited has joined hands with IndusInd Bank to offer easy and affordable financing for customers for their range of electric two-wheelers at Kinetic Green dealerships across India. 

Kinetic Green has so far designed, manufactured, and cumulatively sold over 60,000 electric vehicles and has marked sales of Rs 600 crore, the EV maker claimed in a statement.

Under the current scheme, customers will get up to 100 per cent LTV (loan to value), at lucrative interest rates for flexible tenures. The loan deal will enable financing options for both salaried and self-employed customers. The scheme also provides the fastest turnaround time for an in-principal approval with its digital process that has minimal documentation, according to a company’s stock exchange filing. 

 “We are delighted to join hands with IndusInd Bank as our trusted partner to bring affordable and easy financing options to our customers. IndusInd Bank will be a strong asset to our electric vehicle ecosystem to deliver banking and payments the way customers want. I am confident that this partnership will provide a green mobility shift to our customers,” said Sulajja Firodia Motwani, Founder & CEO, Kinetic Green. 

It is to be noted that the joint venture of Kinetic and Firodia Group, Kinetic Green is a leading player in the electric vehicle space with an array of battery-operated vehicles such as electric scooters, electric three-wheelers, both cargo, and passenger, under the Kinetic Green brand. It also manufactures electric golf carts and buggies in partnership with Tonino Lamborghini of Italy. It develops ARAI-approved electric 3-wheeler as well as Lithium-ion battery technology on its autos in India. 

 “We are excited to collaborate with Kinetic Green on their EV journey. Over the years, we have offered differentiated financing solutions to deliver a superior customer experience. We are confident that the scheme offered for the financing of Kinetic Green products will be best in class in the industry. This collaboration is a significant step toward IndusInd Bank's vision of Green Mobility,” said A G Sriram, Head - Consumer Finance, IndusInd Bank.