Lectrix EV seals partnership with IDFC

January 4, 2023
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Delhi, 04 January, 2023: Lectrix EV, the electric mobility arm of SAR Group, has announced tie-ups with several finance companies to allow customers to buy Lectrix LXS smart electric scooter for a monthly installment of as low as Rs 1,999. The EV maker has established tie-ups with companies such as IDFC Bank, RevFin Securities, Shriram Finance, Eduvanz, and Loan Tap.  Besides offering easy financing, these companies will further offer convenience to customers by providing loan approval instantly. 

These finance tie-ups are aimed at making EV purchase easier for consumers, especially in Tier 2 and Tier 3 cities where securing auto loan from banks is often a tedious process. The easy finance schemes announced by Lectrix EV will allow customers to secure a loan of up to 85 per cent of value of LXS electric scooter at low rate of interest.

Speaking about the announcement, Mr Willy Chengappa, VP-Sales & Marketing, Lectrix EV, said “Securing loan for a new vehicle purchase is often a challenge, especially in Tier 2 and Tier 3 cities. Through our easy finance schemes, our endeavour is to make things convenient for customers by helping them buy LXS electric scooter for an EMI as low as Rs 1,999 per month. We have also streamlined the loan processes with the lending partners to provide loan approvals instantly.”

“Lectrix EV is a customer-centric company and we believe in going the extra mile to ensure our customers get a delightful experience, right from booking the vehicle to using it for solving their mobility needs. Our lending partners, through several easy finance schemes, will make the loan securing process quicker while keeping the monthly instalments low,” he added.

Lectrix LXS is a connected electric scooter with a price tag of Rs 74,999/- (Ex-showroom, Delhi) after FAME and state subsidies. This electric scooter has a 2 kWh advanced lithium-ion battery pack that offers a top speed of 55 km/h and a range of 89 km per charge (in Indian driving conditions).

Lectrix LXS comes with a digital instrument cluster and connected technology that offers features such as live vehicle tracking, SOC, real-time range, etc. through a smart phone app. This makes Lectrix LXS one of the most affordable connected electric scooters in India. 

Lectrix LXS is currently available through 60 dealerships in the country. Each of these dealerships have a dedicated service area to provide customers with a hassle-free ownership experience.  The company plans to expand its dealership network to 300 dealerships by mid-2023.

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