Kinetic Watts and Volts Ltd (Kinetic EV), the electric vehicle manufacturing subsidiary of Kinetic Engineering, has partnered with IDFC FIRST Bank to offer additional retail financing options for its electric two-wheelers across its dealership network in India.
Under the partnership, IDFC FIRST Bank has onboarded Kinetic EV as an original equipment manufacturer (OEM) partner for two-wheeler retail finance. Customers at Kinetic EV dealerships will be able to access the bank’s financing options, subject to the applicable eligibility criteria.
According to the company’s statement, eligible customers will have access to quick loan approvals, EMI options and competitive interest rates. Kinetic EV and IDFC FIRST Bank are also working on additional schemes and offers, with details of these initiatives to be announced later.
Ajinkya Firodia, Managing Director of Kinetic Watts and Volts Ltd (Kinetic EV), said that for many customers, choosing an electric two-wheeler is not only about selecting the right product but also about finding a purchase option that works for them.
Kinetic EV currently has more than 65 operational dealerships across India, offering sales, service and spares facilities. IDFC FIRST Bank’s ground operations team will work with these dealerships to facilitate financing at the point of purchase.
Gaurav Syal, Business Head – 2W at IDFC FIRST Bank, said the electric two-wheeler segment is witnessing increasing customer interest. He added that the partnership with Kinetic EV will enable the bank to extend its financing solutions to a wider set of customers across its dealership network. The partnership will also leverage IDFC FIRST Bank’s presence across towns and markets where Kinetic EV is expanding its dealership footprint.
