In order to facilitate the ownership of electric vehicles (EVs) in India, Greaves Finance Limited, an NBFC and subsidiary of Greaves Cotton Ltd., has teamed with the tech-focused insurance ACKO.
Through the integration of ACKO’s products with Greaves’ specialized EV lending platform, evfin, this partnership offers customers the best insurance coverage and practical financing choices. Finding reasonably priced insurance can be made easier for customers by offering them specialist financial support and solutions that are customized to meet their unique requirements.
The collaboration intends to lower the cost burden associated with accidents and hospital stays, streamline the ownership process for electric vehicles, and launch cutting-edge goods that will accelerate the adoption of sustainable mobility solutions throughout India.
Greaves Finance Limited’s Executive Director and CEO, P.B. Sunil Kumar, expressed excitement about the growth potential in the Electric 2W market, which has experienced an annual increase of 30%. He thinks that this expansion will be aided and India’s leadership in sustainable mobility will be advanced by more easily accessible financing and insurance arrangements. He is excited about the collaboration with ACKO to provide consumers specialized, cost-effective solutions and to use technology to spread financial services throughout India.
In order to promote the adoption of EVs in India, Brijesh Unnithan, SVP of Internet Partnerships at ACKO, underlined the significance of customized insurance options. In order to encourage the adoption of EVs, he pointed out the significant obstacles of cost and battery deterioration and emphasized the need to build an ecosystem that provides accessible finance and insurance. He said that working with Greaves Finance was a critical step in accomplishing this goal.
This month is evfin’s first anniversary. Major EV 2-wheeler OEM dealerships in 31 Indian cities, including as Ather Energy, Ampere by Greaves, Vida by Hero Motocorp., OLA Electric, Bajaj Chetak, and TVS iQube, offer its services.
