• The exclusive scheme is designed specifically for Kinetic Green’s customers
Pune, October 27th 2022: Kinetic Green Energy and Power Solutions Limited, India’s leading manufacturer of Electric Vehicles (EVs), have partnered with IndusInd Bank to offer easy and affordable financing for their range of electric two-wheelers. Through this partnership, Kinetic Green aims to penetrate in deep rural parts of the country by providing access to digitally enabled loans from IndusInd Bank across Kinetic Green dealerships across India.
Under these special scheme, customers will get up to 100% LTV (loan to value), at attractive interest rates and flexible tenures. The program enables financing options for both salaried and self-employed customers and the scheme also provides the fastest turnaround time for an in-principal approval with its digital process that has minimal documentation.
On the occasion, Ms. Sulajja Firodia Motwani, Founder & CEO, Kinetic Green, said, “The company’s vision is to provide green mobility to the masses. In line with our vision, we are delighted to onboard IndusInd Bank as our trusted partner to bring affordable and easy financing options to our customers. IndusInd Bank will be a strong asset to our electric vehicle ecosystem to deliver banking and payments the way customers want. I am confident that this partnership will provide a green mobility shift to our customers.
Mr. A.G. Sriram, Head - Consumer Finance, IndusInd Bank, said, “We are excited to collaborate with Kinetic Green on their EV journey. Over the years, we have offered differentiated financing solutions to deliver a superior customer experience. We are confident that the scheme offered for the financing of Kinetic Green products will be best in class in the industry. This collaboration is a significant step toward IndusInd Bank's vision of Green Mobility. Our extensive geographic reach will help in catering to Kinetic Green customers across the country.”
About Kinetic Green:
Kinetic Green, the latest venture from Kinetic & Firodia Group, today is a leading player in the Electric Vehicle space offering a wide range of battery-operated vehicles such as electric scooters, electric three-wheelers, both cargo, and passenger, under the Kinetic Green brand and electric golf-carts and buggies in partnership with world’s leading brand, Tonino Lamborghini of Italy. Spearheaded by third generation scion of the Firodia family, Ms. Sulajja Firodia Motwani, the company has successfully designed, manufactured, and cumulatively sold over 60,000 electric vehicles and crossed sales of over INR 600 Crores.
Kinetic Green has had several firsts to its name including being the 1st company to develop ARAI approved electric 3-wheeler and the 1st to offer Lithium-ion battery technology on their e-3w in India. The mission of Kinetic Green is to provide green mobility for the masses.
About IndusInd Bank:
IndusInd Bank Limited commenced its operations in 1994 catering to the needs of consumer and corporate customers. Since its inception, the Bank has redefined the banking experience for its customers including various government entities, PSUs and large corporations. As on September 30, 2022, IndusInd Bank has a customer base of approx. 33 million, with 2320 Branches/Banking Outlets and 2807 ATMs spread across geographical locations of the country and covering 1,33,000 villages. The Bank has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology that supports multi-channel delivery capabilities. It enjoys clearing bank status for both major stock exchanges BSE and NSE and settlement bank status for NCDEX. It is an also an empanelled banker for MCX. IndusInd Bank was included in the NIFTY 50 benchmark index on April 1, 2013.
RATINGS
Domestic Ratings:
- CRISIL AA + for Infrastructure Bonds program/Tier 2 Bonds
- CRISIL AA for Additional Tier 1 Bonds program
- CRISIL A1+ for certificate of deposit program / short term FD program
- IND AA+ for Senior bonds program/Tier 2 Bonds by India Ratings and Research
- IND AA for Additional Tier 1 Bonds program by India Ratings and Research
- IND A1+ for Short Term Debt Instruments by India Ratings and Research
International Ratings:
- Ba1 for Senior Unsecured MTN programme by Moody’s Investors Service
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