Greaves Finance and Ather Energy: A new partnership for EV financing

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Greaves Finance and Ather Energy join hands to offer exclusive financing solutions for electric two-wheelers

Greaves Finance Limited, a non-banking financial company (NBFC) and a wholly owned subsidiary of Greaves Cotton Ltd, under its brand Evfin, has announced its partnership with Ather Energy, India’s leading electric two-wheeler manufacturer. This partnership will enable Ather Energy’s customers to access a range of customized financing solutions from Evfin, designed to suit their individual needs and preferences. The financing schemes will also offer attractive benefits such as buyback and upgrade options for the customers.

Ather Energy is a pioneer in the electric two-wheeler segment in India, offering smart and connected products such as the Ather 450X and the Ather 450 Plus. These products are powered by lithium-ion batteries and feature intelligent features such as Google Maps, Bluetooth connectivity, over-the-air updates, and remote diagnostics. Ather Energy also has a network of fast public chargers called Ather Grid, which is available across various cities in India.

The partnership between Greaves Finance and Ather Energy will provide the customers with five exclusive financing schemes from Evfin, which are:


  • Zero Down Payment: This scheme allows customers to purchase an Ather electric scooter without paying any upfront amount. The customers only have to pay the monthly installments for the loan tenure.
  • Low-Interest Rate: This scheme offers the customers a low-interest rate of 8.99% per annum for the loan tenure, which reduces the overall cost of ownership of the electric scooter.
  • Low EMI: This scheme offers the customers a low equated monthly installment (EMI) of Rs. 2,589 for the loan tenure, which makes the electric scooter more affordable and convenient to own.
  • Buyback Guarantee: This scheme offers the customers a guaranteed buyback value of Rs. 85,000 for their Ather electric scooter after three years of ownership. The customers can either sell their electric scooter back to Ather Energy or use the buyback value to upgrade to a new model.
  • Easy Upgrade: This scheme offers customers an easy and hassle-free option to upgrade their Ather electric scooter to a newer model after one year of ownership. The customers can exchange their old electric scooter for a new one and pay the difference amount as per the prevailing market price.
Sandeep Divakaran, CEO of Greaves Finance, commented on the partnership, “Partnering with Ather Energy ignites our enthusiasm to transform the affordability of electric vehicles. Together, we aim to elevate the customer experience to new heights and overcome any obstacles hindering widespread EV adoption. Ather Energy’s valued customers now have the chance to embrace sustainable and efficient electric mobility with our tailored financing solutions, unlocking a future of limitless green transportation possibilities.”

Ravneet Phokela, Chief Business Officer of Ather Energy, said, “We are delighted to partner with Greaves Finance to offer our customers more flexible and convenient financing options for their electric two-wheelers. Greaves Finance has a deep understanding of the EV market and customer preferences, and we are confident that their customized financing solutions will enhance the value proposition of our products and services. We look forward to a long-term and fruitful collaboration with Greaves Finance to accelerate the adoption of electric mobility in India.”

Greaves Cotton is a multi-product and multi-location engineering company that is a leading name in fuel-agnostic powertrain solutions, e-mobility, aftermarket & retail. The company reported a consolidated net loss of Rs 5.08 crore in the quarter ended June 2023 as against net profit of Rs 16.07 crore during the previous quarter ended June 2022. Sales declined 13.87% to Rs 568.59 crore in Q1 FY24 over Q1 FY23.

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