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GT Force Partners with ESAF Small Finance Bank to Offer Financing for Electric Two-Wheelers

June 24, 2024

GT Force Partners with ESAF Small Finance Bank to Offer Financing for Electric Two-Wheelers

GT Force, a leader in electric two-wheeler manufacturing, has teamed up with ESAF Small Finance Bank to provide retail finance solutions for its customers. This partnership aims to make it easier for people to buy GT Force’s electric two-wheelers by offering accessible financing options.

ESAF Small Finance Bank, based in Thrissur, Kerala, focuses on providing banking services and small loans to underserved communities. This makes it an ideal partner for GT Force in reaching a wider customer base. With this new initiative, more people can apply for financing, making it possible for them to own an electric vehicle (EV).

Mukesh Taneja, Co-Founder and Managing Director of GT Force, said, “Apart from incentives, the availability of strong financing options is crucial for helping customers move from traditional ICE vehicles to eco-friendly alternatives. Since many two-wheeler sales depend on financing, our partnership with ESAF Small Finance Bank is a key step in making our electric vehicles accessible to more people. This collaboration will also boost our sales as we expand.”

A spokesperson from ESAF Small Finance Bank added, “We are excited to partner with GT Force to offer financing for electric two-wheelers. This reflects our commitment to supporting sustainable initiatives and providing financial services to underserved segments. We believe our financial solutions will help more people adopt environmentally friendly transportation, contributing to a cleaner future.”

Customers can finance GT Force’s latest electric two-wheelers, including the GT Vegas, GT Ryd Plus, GT One Plus Pro, and GT Drive Pro, which offer ranges from 70 km to 110 km and are priced between INR 55,555 and INR 84,555.

GT Force currently has 35 outlets across several states and plans to open 100 dealership showrooms by the end of 2024, each providing sales, service, and spare parts support.

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