Companies

BattRE partners ZestMoney to provide EMI solutions to customers

Prashasti Awasthi Mumbai | Updated on July 28, 2020 Published on July 28, 2020

BattRE Electric Mobility Pvt Ltd, a technology-driven EV start-up, on Tuesday announced its partnership with ZestMoney, an AI-driven EMI financing platform. With this collaboration, customers can buy BattRE electric scooters through the credit system.

With ZestMoney, even customers with no previous CIBIL score can get access to financing. They can choose an EMI tenure of three, six or 12 months for repayments, BattRe mentioned in its official release.

This facility is valid for all the models of BattRE electric scooters like the BattRE IOT, BattRE One, BattRE Lo:EV and BattRE Gps:ie.

Customers can book any BattRE electric scooter from the dealers located across 12 States and avail financing options from ZestMoney.

Customers can complete the KYC formalities online and may not have to visit the dealer. The process can be done remotely and a request is usually approved in a few hours.

Speaking on the new system, Pankaj Sharma, co-founder of BattRE Electric Mobility, said in the official release: “At BattRE, our belief is to focus on affordability, convenience and ease to our customers. Our partnership is a step towards making electric scooters affordable to everyone, especially during Covid.”

“This EMI facility provided in partnership with Zest Money will enable customers to book & enjoy riding BattRE electric scooter which is an aspiration for every millennials and working professionals,” he added.

Post-Covid era

Commenting on the partnership, Lizzie Chapman, CEO and co-founder of ZestMoney, said: “We are excited to partner with BattRE at a time when demand for electric scooters is at an all-time high. People are increasingly looking for EMI financing options to fuel their dreams. Current circumstances around Covid-19 also necessitate the need for contactless and digital means of credit.”

This comes at a time when the pandemic has necessitated social distancing and commuters are preferring to have their own vehicle to travel.

According to a study conducted by Frost and Sullivan, e-rickshaws, e-autos, and e- two-wheelers are the most promising segments for electrification in India and are supposed to account for over four million sales by 2025.

The study also suggests that 30-40 per cent of scooters in the country will be electric in seven-eight years.

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Published on July 28, 2020
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