Fintech platform Rupyy Partners with OEMs for Foray into EV Financing

Fintech platform Rupyy Partners with OEMs for Foray into EV Financing

Rupyy, a FinTech platform, recently announced its foray into the electric vehicle (EV) financing segment. The firm claims says it is building on its mission to revolutionize the financing experience for all vehicle financing categories, Rupyy has partnered with original equipment manufacturers (OEMs) and multi-brand outlets (MBOs) in the EV industry to offer flexible and accessible loans to customers.

The firm has entered into key strategic tie-ups with prominent EV manufacturers and MBOs such as Pure EV, Trinity, Blive – MBO, Tork, Jitendra EV, Hero Electric, Electric One – MBO, Hop Electric, Ampere, Hero MotoCorp, to cater to the growing demand for EV financing. With such industry collaborations, Rupyy can enable a seamless loan experience for a wide segment of consumers, the firm said.

The tenure of EV loans generally spans from 12 to 48 months. As per the firm, Rupyy understands the diverse needs of customers and offers EV loans coupled with flexible repayment options to suit individual financial circumstances. Recognizing the importance of affordability, Rupyy says it plans to introduce plans for lower Equated Monthly Installments (EMIs) by leveraging longer tenures or other innovative tools, aligning with consumer demands.

Rupyy can finance up to 100% of the on-road price for deserving customers.

Namit Jain, Co-Founder & CEO, Rupyy shared his perspective on the company’s recent foray into the electric vehicle (EV) category. He stated, “We have been on a mission to make vehicle financing accessible to every single Indian and simplifying the consumer experience like never before. Post our revolutionary impact in used car loans, venturing into the realm of EV financing especially for two wheelers seems like a natural progression in our endeavors. The widespread acceptance of EVs is already underway, with approximately 4% of the two-wheeler market already embracing electric alternatives. Rupyy aims to redefine the financing process in the category keeping consumers at the center of the whole experience”.

Looking ahead, Rupyy aims to capture 10% of the market share in the category.