Hero Electric, RevFin Partners To Provide Loans To EV Riders

Electric two-wheeler manufacturer, Hero Electric has joined hands with RevFin, an EV financing company, to provide readily available loans to EV riders across India. This partnership strives to create opportunities for riders who intend to use electric two-wheelers for commercial purposes like e-commerce deliveries, ridesharing, etc.

Sohinder Gill, CEO of Hero Electric, said, “This partnership will enable us to provide interested customers with the flexibility to purchase an electric two-wheeler in easy monthly installments while riding clean mobility.”

In collaboration, both the companies will jointly finance and lease 2.5 lakh electric two-wheelers over the next three years and will collaborate with multiple e-commerce, logistics, and fleet operations companies.

As of now, RevFin has a presence in 18 states, including UP, Bihar, UK, Haryana, Uttarakhand, and Jharkhand.

Commenting on the partnership, Sameer Aggarwal, Founder of RevFin, said, “Commercial two-wheeler adoption is still low in India, where finance is one of the largest challenges. Through this association, we expect to change this trend and power the Government's plans to increase electric mobility penetration in the country."