Kinetic Ties Up With Lenders to Boost EV Financing

• Kinetic Watts & Volts partners with Hero FinCorp, Bajaj Finserv, and CleverPe to offer flexible financing for its DX+ and DX electric scooters
• The program reduces upfront costs and improves access to EV financing through authorized dealerships
• The DX series, featuring LFP batteries, targets urban commuters and is seeing growing registrations

Kinetic Watts & Volts, which is the electric mobility segment of Kinetic Group recently, kicked off a multi-partner retail finance initiative that would boost customer access to credit for its electric scooters.

The brand has collaborated with Hero FinCorp, Bajaj Finserv, and the fintech platform CleverPe to provide a variety of financing options for its DX+ and DX electric scooter ranges.

With this move, a hybrid approach of conventional EMI loans along with digital payment ways is going to be set up at Kinetic’s authorized dealerships, aiming not only to lower the initial costs of customers but also to push the use of electric vehicles in fresh markets.

As per Ajinkya Firodia, the Vice Chairman and Managing Director of Kinetic Watts & Volts, ensuring access to structured financing is the main factor in speeding up EV adoption. “By partnering with Hero FinCorp, Bajaj Finserv and CleverPe, we have built a comprehensive retail finance ecosystem that offers customers flexibility, choice and confidence”, he stated.

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Hero FinCorp and Bajaj Finserv are leveraging their vast nationwide lending networks and good underwriting experience in the partnership, whereas CleverPe will launch a digital-first, app-based solution that facilitates faster approvals and less paperwork.

Urban commuters are the target market for the DX series which integrates contemporary electric technology with the Kinetic brand's legacy and possesses a Lithium Iron Phosphate (LFP) battery.

Although the company did not disclose exact figures, it said that registrations are rising in the initial markets. This retail finance initiative is interpreted as a move to clear the financial barriers and help the electric scooter to penetrate the market more.