GT Force has established a relationship with I-Loan, an online two-wheeler finance business that is part of the LoanTap Group. The agreement aims to make GT Force’s electric vehicle lineup, which includes models like the GT Vegas, GT Ryd Plus, GT One Plus Pro, GT Drive Pro, and the luxury GT Texa, more cheap and accessible to customers in India.
This relationship follows GT Force’s previous engagement with ESAF Small Finance Bank, which specialises in delivering financial services to underserved populations.
Through I-Loan, customers will have access to financing options such as flexible repayment plans, low-cost EMIs, and customised loan tenures, which reduce the burden of upfront payments. These solutions aim to broaden the appeal of GT Force’s electric vehicles (EVs) by making them more financially accessible, supporting the company’s goal of promoting eco-friendly transportation.
Commenting on the partnership, Mukesh Taneja, Co-Founder and Managing Director of GT Force, said, “This collaboration with I-Loan is a step toward making electric two-wheelers easier to purchase, with affordable financing options. This not only supports our vision of encouraging EV adoption but also enhances the overall buying experience for customers.”
Rajeev Das, CEO of I-Loan, added, “Our partnership with GT Force will help increase access to electric mobility through innovative financing solutions. We aim to provide customers with flexible options to ease the financial process of purchasing EVs.”
As part of the agreement, I-Loan will offer loan products with features such as a fully digital customer journey, fast-track loan approvals with minimal paperwork, and field support for GT Force’s dealership network. Dealers will also receive training and resources to promote these financing options, with a focus on simplifying the loan process for buyers. Both companies plan to track the impact of the partnership by monitoring metrics such as sales growth and customer satisfaction, with regular strategic reviews to ensure that the collaboration continues to meet market demands.
GT Force, which currently operates 40 dealerships in states such as Haryana, Punjab, Uttar Pradesh, Madhya Pradesh, and Chhattisgarh, plans to expand its network to 100 dealerships by the end of 2024, further increasing the availability of its electric vehicles.
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