EV financing Industry welcomes Rupyy with objective to acquire 10% market share

A financial technology business called Rupyy, which is a subsidiary of the CarDekho Group, has entered the market for financing

electric vehicles

To meet the rising demand for EV finance, the firm claims it has worked with top OEMs and multi-brand outlets (MBOs) in the EV market, including Tork, Pure EV, Trinity, Blive - MBO, Electric One - MBO, Jitendra EV, Hero MotoCorp, Hero Electric, Hop Electric and Ampere, 

It states that the typical EV loan term is between 12 and 48 months. It recognises the wide range of demands of consumers and provides EV loans along with adaptable repayment choices to fit different financial situations. Rupyy intends to develop plans with reduced EMIs by utilising longer tenures or other cutting-edge methods, in line with customer desires, because it recognises the importance of affordability. For a limited number of EV buyers, Rupyy claims it would finance up to 100% of the on-road pricing.

“We have been on a quest to make auto financing available to every Indian and to radically simplify the buying process,” stated Namit Jain, Co-Founder & CEO of Rupyy. He said, "After making a groundbreaking effect in the field of used automobile loans, expanding into the field of EV finance, particularly for

two-wheelers