EkoTejas ties up with lending institutions to provide EV loans and insurance

By Leandra Monteiro

EkoTejas has tied up with seven financial institutions, insurance providers and non-bank financial institutions (NBFCs) including Bajaj Finance, TJSB Bank, Shriram Insurance, SBI insurance and Bajaj Allianz with an aim to help the customers buy the 2- and 3-wheelers EV with affordability.

EkoTejas is among the fastest-growing Electric vehicle (EV) brands with a pan-India presence. The company has an established dealer presence in about ten states including Maharashtra, Madhya Pradesh, Bihar, Haryana, Odisha, Uttar Pradesh, Andhra Pradesh, Telangana, Tamil Nadu and Karnataka.

K Venkatesh, Co-founder of EkoTejas, said, “We are trying to normalize having electric vehicles in every home. With all these added benefits, we are sure EV will be well accepted widely among Indian consumers.”

The recent tie-up is expected to benefit the EV customers by them providing financial assistance. In fact, only a few EV players are able to provide on-road insurance for the segment. Moreover, the company’s dealers will install charging points at the buyer’s parking spot, especially if the buyer lives in an apartment.

EkoTejas began its journey in 2017, making Tier 2 and 3 cities as their starting point and then gradually moving towards Metros. Today, Ekotejas has almost 90% of its parts made in India.