Greaves Finance Limited, a subsidiary of Greaves Cotton Ltd., has formed a strategic alliance with tech-first insurer ACKO to promote seamless electric vehicle (EV) ownership in India. This partnership aims to encourage EV adoption through Greaves’ 100% EV-focused lending platform, evfin, which will now offer ACKO’s insurance policies alongside financing options.
A Comprehensive Solution for EV Owners
The collaboration offers EV owners a comprehensive package of benefits, including:
- Tailored Financing and Insurance: Customers can conveniently access both financing and insurance solutions designed to meet their specific needs.
- Streamlined Insurance Procurement: The partnership simplifies the insurance buying process, providing affordable policies that address the unique requirements of EV owners.
- Financial Protection: ACKO’s insurance offerings will alleviate the financial burden on EV owners in the event of accidents or hospitalizations.
Driving Sustainable Mobility
By addressing the financial barriers often associated with EV ownership, the partnership aims to create a more favorable environment for consumers to choose electric vehicles. This initiative is expected to accelerate the adoption of sustainable mobility solutions in India and contribute to a greener future.
What do the leadership say for the Partnership:
- PB Sunil Kumar, Executive Director and CEO of Greaves Finance Limited: “We believe that accessible financing and insurance models will push EV adoption further, helping accelerate India’s potential to lead the charge in sustainable mobility.”
- Brijesh Unnithan, SVP – Internet Partnerships at ACKO: “It is important to foster an ecosystem that facilitates affordable financing and insurance solutions to encourage individuals to consider EVs.”
A Milestone for evfin
The partnership with ACKO marks a significant milestone for evfin, which recently celebrated its first anniversary. The platform’s offerings are now available in leading EV 2-wheeler OEM dealerships across 31 cities in India.
Greaves Finance and ACKO’s partnership is a strategic step towards promoting EV ownership in India. By offering comprehensive financial solutions and simplifying the insurance procurement process, the collaboration aims to make EVs more accessible and affordable for Indian consumers. This initiative has the potential to drive sustainable mobility and contribute to India’s goal of a greener future.
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