New Delhi: Ola Electric on Monday said it was tied with leading banks and financial institutions, including HDFC Bank, ICICI Bank, Mahindra Prime and Capital boxes, to provide loans to customers for purchases from S1 September.
The company, which has launched OLA S1 electric scooters in two variants – S1 and S1 Pro – with prices of Rs 99,999 and Rs 1,29,999, respectively (former showrooms including Fame II subsidies and excluding state subsidies), said they will begin Delivery in October.
“We have binded with all the main bank and financial (financial) institutions …
we will have many of those who live starting September 8 and then other people will stay immediately after that,” Ola Varun Dubey’s electric marketing officer told PTI.
Banks and financial institutions bound by Ola Electric include Bank of Baroda, Axis Bank, Bank HDFC, ICICI Bank, Bank First Bank, Bank Indusind, AU Small Financial Bank, Jana Small Finance Bank, Capital Tata and Bank.
Dubey said because consumers will buy online the whole process will be “very smooth” and all who choose financing must be able to take advantage of the option.
“They will also be able to get all the details in terms of how many loan agreements they have, what they need to do …
Also, we have received a very interesting financing option, with EMI starting from Rs 2999 for S1 …” Add it.
When asked about shipping plans for scooters, Dubey said from September 8 and so on, people who have ordered can change it with purchases by paying the remaining amount and completing the variant of the vehicle and color options.
“Then we will start shipping for them from October and so on.
We will do home delivery and we will really take a scooter to the threshold of their door,” Dubey added.
When asked about the impact of the current semiconductor deficiency in the company’s ability to fulfill demand, he said, “This must be a developing situation.
At this time the time line we have provided factors in various obstacles.” When people keep changing orders into purchases, he says Ola Electric will update its customers about the waiting period based on “where they are in the queue or when they have bought how many people are bought before”.
Ola Electric has opened a pre-launch order of its electric scooter in July for Rs 499 and has received 1 lakh order in just 24 hours but has not revealed how many orders have been received.
On August 15, the company announced his robbery to the green mobility room with the launch of his first electric scooter, Ola S1.
Scooters come in 10 colors with the development of in-house 8.5 kw motorbikes and batteries of 3.97 kWh.
Ola is preparing a manufacturing plant, spread in 500 hectares, in Tamil Nadu.
The company has stated that it will initially be started with an annual production capacity of 10 lakh and then scales up to 20 lakh, in line with market demand, in the first phase.
When fully finished, Ola Electric has claimed that the factory will have an annual capacity of one crore unit “which is 15 percent of the total production of two-wheeled vehicles”.
Ola Electric binds with a bank for loans to customers
