IndusInd Bank, Kinetic Green partner for financing of electric two-wheelers

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IndusInd Bank said that Kinetic Green Energy and Power Solutions, an Indian electric vehicle (EV) manufacturer owned by Kinetic & Firodia Group, has entered into a partnership with the bank for offering easy and affordable financing for the latter’s variety of electric two-wheelers.

With the partnership, Kinetic Green Energy and Power Solutions will look to enter into the deep rural parts of India by giving access to digitally enabled loans from IndusInd Bank across its dealerships in the country.

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Sulajja Firodia Motwani — Kinetic Green Energy and Power Solutions Founder and CEO said: “The company’s vision is to provide green mobility to the masses. In line with our vision, we are delighted to onboard 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.”

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The special scheme will see customers get up to 100% loan to value (LTV) at flexible tenures and attractive interest rates, said IndusInd Bank.

The program facilitates financing options for salaried as well as self-employed customers. The scheme is also claimed to give the quickest turnaround time for an in-principal approval with its digital process which hardly has any documentation.

A.G. Sriram — IndusInd Bank Consumer Finance Head said: “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.

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“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. Our extensive geographic reach will help in catering to Kinetic Green customers across the country.”

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