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Motovolt Mobility, HDFC Bank to offer EMI schemes for purchase of e-cycles


Money & Banking

Motovolt Mobility, an electric mobility company, has tied up with HDFC Bank to offer easy EMI schemes for purchase of a wide range of e-cycles. According to Manohar Bethapudi, Head – Growth & Corporate Strategy, Motovolt Mobility, this will encourage more people to opt for electric mobility.

“In current times when fuel prices are on the rise, e-cycles are a perfect solution for a cleaner and more cost-effective ride. The price range of the products — along with accessories — would be between ₹27,000 and ₹40,000 with options to customise as per the need,” he said in a press statement.

The company, which began its journey in East and South India, has started expanding across the country while focusing on building a digital backbone for customer acquisition and experience. It also plans to launch e-scooters and e-bikes, and increase its product portfolio during the current year.

IoT connected

Launched in December 2020, the Motovolt range of products are available with smartphone-based connected features that are one-of-a-kind in the category. All products are connected by IoT, and powered by smart batteries and intelligent battery management system. The company has a manufacturing unit with an R&D product testing facility in Kolkata and an engineering design and prototype unit in Bengaluru. It aims to cater to both B2B and B2C segments through its range of customised products.

 “HDFC Bank is committed to become eco-friendly in its own operations, as well as supporting businesses that promote sustainability. Electric mobility is the advent of sustainable transport in the future. HDFC Bank is committed to help India mitigate the effects of climate change,” Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking & IT, HDFC Bank, said in the statement.

Published on May 10, 2022

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