Greaves Finance Limited under its 100% ev-focused lending platform evfin, announced a partnership with Eqaro Surety Private Limited to enhance Smart.fin offering, a buyback and upgrade financing product by evfin, for electric two-wheelers (E2Ws). This collaboration aims to boost confidence in EV purchases by offering guaranteed resale values, benefiting customers, OEMs, and dealers alike.
With the secondary market for E2Ws still in its early stages, evfin has been leading innovation through its Smart.fin product, which offers customers an assured buyback option and seamless upgrades for their electric two-wheelers. Through this new partnership, evfin will ensure the guaranteed buyback value, mitigating any risks related to vehicle resale and reinforce its commitment to creating sustainable and hassle-free EV ownership, backed by a strong & reliable partner like Eqaro Guarantees.
The partnership will be instrumental for both customers and OEMs as well as dealers. For customers, the guaranteed buyback and assured resale value eliminate concerns about depreciation, making it easier for them to upgrade to newer, more advanced vehicles while enjoying a smooth, worry-free ownership experience. For OEMs and dealers, the partnership mitigates financial risks associated with resale value, enhancing trust in their products and encouraging more customer upgrades, which ultimately drives sales and improves customer retention.
Commenting on the partnership, P B Sunil Kumar, CEO, Greaves Finance, said, “Our collaboration with Eqaro is a pivotal step in reimagining the ownership experience for electric two-wheeler customers. This partnership not only ensures secure resale value but also motivates a wider shift to electric mobility. By eliminating depreciation uncertainty, we’re committed to driving sustainable growth and making electric two-wheelers an increasingly compelling choice for today’s consumers.”
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