Lectrix EV Partners With Several EV Financing Companies

Lectrix EV, the electric mobility arm of SAR Group, has tied-ups with several finance companies to allow customers to buy Lectrix LXS electric scooter for a monthly installment of as low as Rs. 1,999. 

The EV maker has established tie-ups with companies such as IDFC Bank, RevFin Securities, Shriram Finance, Eduvanz, and Loan Tap. Besides financing, these companies will also provide instant loan approval to customers.

These finance tie-ups are aimed at making EV purchase easier for consumers, especially in Tier 2 and Tier 3 cities where securing auto loan from banks is often a tedious process. The easy finance schemes announced by Lectrix EV will allow customers to secure a loan of up to 85 per cent of value of LXS electric scooter at low rate of interest.

Lectrix LXS is a connected electric scooter with a price tag of Rs. 74,999 (ex-showroom, Delhi) after FAME and state subsidies. This electric scooter has a 2 kWh advanced lithium-ion battery pack that offers a top speed of 55 km/h and a range of 89 km per charge (in Indian driving conditions).

The electric scooter comes with a digital instrument cluster and connected technology with features such as live vehicle tracking, SOC, real-time range, etc. through a smart phone app. 

Lectrix LXS is currently available through 60 dealerships in the country. The company has plans to expand its dealership network to 300 dealerships by mid-2023.