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GT Force And ESAF Small Finance Bank Unite To Ease Electric Two-Wheeler Financing
GT Force has entered into a strategic partnership with ESAF Small Finance Bank. This collaboration aims to provide retail finance solutions, making it easier for customers to purchase GT Force's electric vehicles.
ESAF Small Finance Bank, based in Thrissur, Kerala, is renowned for offering banking services and small loans to the underbanked. This makes it an ideal partner for GT Force in broadening its customer base. The initiative allows people from various backgrounds to apply for financing, making the dream of owning an electric vehicle more attainable.
Mr. Mukesh Taneja, Co-Founder and Managing Director of GT Force, highlighted the importance of financing options. He stated, "Apart from incentives, the availability of robust financing options stands as a pivotal factor in facilitating customers' smooth transition from conventional ICE vehicles to eco-friendly alternatives that meet their mobility needs."
ESAF Small Finance Bank's Senior Management spokesperson expressed enthusiasm about the partnership. "We are excited to partner with GT Force to facilitate the purchase of electric two-wheelers through our retail finance solutions.
This collaboration reflects our commitment to supporting sustainable and eco-friendly initiatives while providing financial inclusivity to the underbanked segments in the EV market," they said.
Product Lineup
GT Force offers a range of electric two-wheelers catering to different speed preferences. The GT Vegas, priced at Rs 55,555 (ex-showroom), comes with a 1.5 kWh battery pack and offers a range of up to 70 km. For those needing more range, the GT Ryd Plus is available at Rs 65,555 (ex-showroom) with a 2.2 kWh battery pack providing a range of 95 km.
The GT One Plus Pro, priced at Rs 76,555, features a 2.5 kWh battery extending the range to 110 km. The flagship model, GT Drive Pro, priced at Rs 84,555, shares similar features with the One Plus Pro.
GT Force products are available through its 35 outlets across states like Madhya Pradesh, Uttar Pradesh, Rajasthan, Punjab, Haryana, Chhattisgarh, and Delhi-NCR. To further enhance accessibility to its eco-friendly products, GT Force plans to establish 100 dealership showrooms by the end of 2024. Each showroom will follow the 3S model—sales, service, and spare parts support.
This partnership between GT Force and ESAF Small Finance Bank aims to make electric vehicles more accessible while promoting sustainable transportation options. It reflects both companies' commitment to environmental sustainability and financial inclusivity.
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