Being in the spotlight for launching S1 and S1 pro electric scooters, Ola Electricals now collaborates with the banks and financial institutions for raising loans to its customers, taking up the motive of encouraging more sales of its S1 electric scooter and assisting its customers for availing the product. Ola Electric’s products are going to be available for purchase from September 8, 2021.

Ola Electric joins the banks and financial institutions for disbursing loans to its customers
Ola Electric joins the banks and financial institutions for disbursing loans to its customers

The company launched its S1 electric scooter recently in August with two variants, namely, S1 and S1 pro, along with listing prices as Rs.99,999 and Rs.1,29,999 respectively. Reportedly, the company will most likely be starting its delivery in the month of October. Passing on the information to the Press Trust of India, Varun Dubey, Chief Marketing Officer of Ola Electric, says, “We have tied up with all the major banks and (financial institution)…we will have many of them live starting September 8 and then others will be live soon after.”
Some of the banks and other financial institutions that Ola Electric has joined for loans comprises, HDFC Bank, Axis Bank, Bank Of Baroda, ICICI Bank, Induslnd Bank, Kotak Mahindra Prime, YES Bank, AU Small Finance Bank, and TATA Capital.

The company’s Chief Marketing Officer ensures a “very seamless” experience to its customers since the whole process of purchasing the products will be online. He shared how potential customers, who have made reservations can purchase scooters just by making the remaining payment and choosing other features like color and variant options of the product. Adding more, he gives comprehensive detail about the EMI and the loan approval amount. Also, he informed that there will be the delivery of electric scooters at the customer’s doorstep.
Ola Electric had stirred the market in July when it announced its pre-launch booking. At just Rs.499, the company was flooded with one lakh bookings within 24 hours.
Scooters are going to be available in the market in 10 different shades including pink, white, black, yellow, blue, etc. Its other technologically advanced features include a 7-inch touchscreen display, inbuilt GPS navigation, 4G internet connectivity with extra features like voice-calling, etc. Customers can also track and access the scooter’s location through a mobile application.

Founded in 2017 by Bhavish Aggarwal, this Bangalore-based company is potentially the ‘future of mobility. Ola Electric is doubtlessly bringing an evolution in the automobile ecosystem by its noticeable contribution to the Electric Vehicle space.