This partnership follows GT Force's recent collaboration with ESAF Small Finance Bank, which focuses on providing financial services to underbanked communities.
07 Oct 2024 | 285 Views | By Autocar Pro News Desk
GT Force, a manufacturer of electric two-wheelers, has announced a partnership with I-Loan, an online platform for two-wheeler financing and part of the LoanTap Group. The collaboration is designed to make GT Force's range of electric vehicles, including models such as the GT Vegas, GT Ryd Plus, GT One Plus ...
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GT Force, a manufacturer of electric two-wheelers, has announced a partnership with I-Loan, an online platform for two-wheeler financing and part of the LoanTap Group. The collaboration is designed to make GT Force's range of electric vehicles, including models such as the GT Vegas, GT Ryd Plus, GT One Plus Pro, GT Drive Pro, and the premium GT Texa, more affordable and accessible to customers across India.
This partnership follows GT Force's recent collaboration with ESAF Small Finance Bank, which focuses on providing financial services to underbanked communities.
Through I-Loan, customers will have access to financing options such as flexible repayment plans, low-cost EMIs, and customised loan tenures, which reduce the burden of upfront payments. These solutions aim to broaden the appeal of GT Force's electric vehicles (EVs) by making them more financially accessible, supporting the company's goal of promoting eco-friendly transportation.
Commenting on the partnership, Mukesh Taneja, Co-Founder and Managing Director of GT Force, said, "This collaboration with I-Loan is a step toward making electric two-wheelers easier to purchase, with affordable financing options. This not only supports our vision of encouraging EV adoption but also enhances the overall buying experience for customers."
Rajeev Das, CEO of I-Loan, added, "Our partnership with GT Force will help increase access to electric mobility through innovative financing solutions. We aim to provide customers with flexible options to ease the financial process of purchasing EVs."
As part of the agreement, I-Loan will offer loan products with features such as a fully digital customer journey, fast-track loan approvals with minimal paperwork, and field support for GT Force’s dealership network. Dealers will also receive training and resources to promote these financing options, with a focus on simplifying the loan process for buyers. Both companies plan to track the impact of the partnership by monitoring metrics such as sales growth and customer satisfaction, with regular strategic reviews to ensure that the collaboration continues to meet market demands.
GT Force, which currently operates 40 dealerships in states such as Haryana, Punjab, Uttar Pradesh, Madhya Pradesh, and Chhattisgarh, plans to expand its network to 100 dealerships by the end of 2024, further increasing the availability of its electric vehicles.