Godawari Electric Motors has partnered with IDBI Bank to avail exclusive financing options for customers PAN-India.
To facilitate the transition to electric mobility, Godawari Electric Motors has launched innovative financing options for its entire product range, partnering with IDBI Bank.
Godawari’s current product portfolio includes Eblu Rozee (electric three-wheeler), and its electric cycles, Eblu Spin, Eblu Thrill and the soon-to-be-launched Eblu Feo (e-scooter) and Eblu Reino (e-loader). The new partnership with IDBI Bank avails access to loans with a maximum tenure of 3 years, at an 11% rate of interest, and a low processing fee of 1%. The maximum LTV offered under this financing option is 80%.
Hyder Khan, CEO, Godawari Electric Motors, said, “We are delighted to announce the launch of a wide variety of financing options for customers of the Eblu range, in collaboration with IDBI Bank. Our journey to provide state-of-the-art e-mobility solutions continues, and we are certain that this innovative offering, which avails instant loans, will create new opportunities for customers to make the transition to green mobility quicker. We inch closer to building a future that is pollution-free and sustainable, and welcome all our customers across India. We will continue to keep customer convenience as the core focus area which aids in convenient and comfortable access to our products and services.”
The company currently has existing tie-ups with SIDBI, Bajaj FinServ, Kotak Mahindra Bank, Paytail, EZFINANZ, Chhattisgarh Gramin Bank, Revfin, Amu Leasing Pvt Ltd and Paisalo to cater to customer requirements and offer a wide range of EV financing solution options with a hassle-free loan application and approval process.
The company is preparing to launch its e-scooter Eblu Feo and e-loader Eblu Reino in August 2023.
The company has invested significantly in network expansion and will aim to have 100 dealers by the end of this fiscal.