Lectrix EV launches an instant loan eligibility pre-booking tool to enable India’s transition towards clean mobility

2024-05-03 12:59:22 Automotive

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7th July 2023, New Delhi: Lectrix EV, the electric vehicle brand from the SAR Group, has launched a ground-breaking feature to check instant loan eligibility for any two-wheeler on their website, without a paywall attached to the process.

Facilitating EV penetration in India, this tool is designed to save time, reduce anxiety, and prompt instant purchase decisions for customers. As a customer-centric company, Lectrix EV understands the pain points and silos that go into decision-making for small retail buyers. This eligibility tool offers a bouquet of services like options for choosing loan tenure, banks and eligibility for two-wheeler as per your income slab. Backed by rock-solid technology, this tool offers a solid and quick mechanism to check financing options before finalizing their purchase.

An aid in decision-making for the customer, the loan eligibility tool does not require the customer to first book the product. This tool is launched as a service to customers without a paywall attached to financing.

India has immense potential for EV adoption. This eligibility tool and financing alliances with leading financing partners will help in EV adoption and expansion in tier 2 tier 3 cities as well.

In collaboration with IDFC First Bank as one of the financiers for this, the free instant loan eligibility calculator widget on lectrixev.com will help the customers understand their CIBIL score in 3 easy steps. This process does not require any purchase commitment on the customer's part. This decision comes in the wake of understanding the utility of EVs for micro-business owners and economically disadvantaged retailers. For this particular segment, Finance is the most powerful deciding factor when it comes to buying an EV.

"We believe that everyone should be able to access an EV scooter easily. India's EV market has enormous potential. Currently, India has only about 50% penetration in the two-wheeler segment which is much lower than countries like Vietnam and Indonesia where more than 80% of the population owns a two-wheeler. India is committed to cutting emissions by 45 percent by 2030, and EVs will play a large role in the same. Therefore, we aim to increase EV penetration with easy, quick, and hassle-free financing for everyone. The launch of the Lectrix EV scooters and the loan eligibility calculator is cognizant of the same", shared Mr. K. Vijaya Kumar, MD & CEO at SAR Electric Mobility

This initiative changes the entire customer buying experience, helping them compete in the free enterprise system with relevant information to make informed decisions. It is a process that is customer-oriented.

About Lectrix EV:

Lectrix is the e-mobility arm of SAR Group and was launched in 2020. The company is driven by the passion to provide reliable and advanced electric two-wheelers to consumers. With an initial investment of Rs 300 crore and supported by a production facility with an annual capacity of 1.5 lakh EVs, Lectrix plans to add a wide range of electric two-wheelers to its portfolio. With a keen focus on technology and innovation, the company aims to disrupt the electric scooter segment with technologically advanced products provided at affordable prices.