Hero Electric aims to take over the growing electric scooter segment with the help of SBI. Read details below.
For the past 14 years, Hero Electric has been a standalone name in the electric two-wheeler segment especially catering the electric scooter buyers. With a total of 750+ outlets pan India, Hero Electric has become the most selling electric scooter brand in India by 2021.
The growing demand for electric vehicles and especially electric scooters has been an opportunity for most two-wheeler makers. What Hero enjoys is the widespread service network with an already established brand value.
Now to enhance their portfolio of electric scooter sales, Hero Electric has tied up with the State Bank of India to provide easy finance options to the new electric scooter buyers. As most of the buyers of electric scooters are either first time EV buyers or swinging on a thin budget string, Hero came up with the solution of making their dreams true via providing finance options which include EMI's as low as Rs 251 per Rs 10,000 mark up to 4 years of tenure.
This easy scheme of ultra-low value EMI options will help the buyers majoring from Tier-II or Tier-III cities with low budget orientation. Not only the EMI value is less for such buyers but if the buyer uses SBI's YONO app for payment; an additional benefit of Rs 2,000 is provided in terms of discount.
The potential customers can avail of these discounts over all of the 750+ Hero Electric showrooms pan India. Furthermore, to reduce the headache of documentation involved in the loan process SBI has shifted the whole process online. This online portal is very easy to use and customers can avail of loans via a few clicks. The involved documentation process has been made very easy now so that most of the buyers can access the availability of loans pan India. One of the highest-selling electric scooters from Hero is the Flash and Optima series which are assessed as value for money products by many of the consumers.
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These efforts from the electric scooter manufacturer and the national bank are an overall great signature for the upcoming era of electric two-wheelers in India. This move will push more and more buyers to buy the electric scooters and shall also help other manufacturers in radicalizing their product ideas and manufacturing limits.
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