Godawari Electric Motors partners with IDBI Bank to provide hassle-free financing solutions.

Godawari Electric Motors has partnered with IDBI Bank to provide special financing alternatives to its clients across India.

In an exciting development for the electric vehicle market, Godawari Electric Motors has joined forces with IDBI Bank to offer hassle-free financing options for their popular Eblu E-Rickshaw. The strategic partnership aims to make it easier for customers to own and drive home the eco-friendly Eblu E-Rickshaw.

Godawari Electric Motors, the maker of the Eblu product line, has partnered with IDBI Bank to provide special financing alternatives to its clients across India.

The new relationship with IDBI Bank provides access to loans with a maximum tenure of three years, an interest rate of 11%, and a processing charge of 1%. This financing option provides a maximum LTV of 80%.

With the rising demand for sustainable transportation solutions, Godawari Electric Motors' Eblu E-Rickshaw has gained significant traction in the market.

The financing options are designed to be customer-friendly, offering competitive interest rates, flexible repayment terms, and quick approval processes. This partnership not only accelerates the adoption of electric rickshaws but also contributes to India's efforts in reducing carbon emissions and promoting a greener environment.

This collaboration marks a significant step towards sustainable mobility and highlights the commitment of both companies in driving India's transition towards a cleaner and greener future.

"Our journey to provide cutting-edge e-mobility solutions continues. We are confident that this innovative offering, which provides instant loans, will create new opportunities for customers to make the transition to green mobility faster," said Hyder Khan, CEO of Godawari Electric Motors.

To cater to customer requirements and offer a wide range of EV financing solution options with a hassle-free loan application and approval process, the company currently has existing tie-ups with Chhattisgarh Gramin Bank, SIDBI, Kotak Mahindra Bank, Bajaj FinServ, Amu Leasing, Paytail, EZFINANZ, Revfin, and Paisalo.

Also Read: Electric auto Eblu Rozee: Price, Features, and Specifications

In August 2023, the business plans to introduce its e-scooter Eblu Feo and e-loader Eblu Reino. It has made major investments in network expansion and plans to have 100 dealers by the end of this fiscal year.

Godavari's current product portfolio comprises the electric three-wheeler Eblu Rozee, as well as its electric cycles Eblu Spin and Eblu Thrill. The Eblu Rozee is India's first electric three-wheeler using Dicyclopentadiene (DCPD) panels, which are made of a high-strength polymer that can survive impacts. The three-wheeler has a 200Ah Li-Ion battery pack with a tested mileage of 167 kilometers per charge.

The Eblu Rozee has a 5.5 kWh motor design and a low running cost of 50 paise per km. The Eblu Rozee boasts an aerodynamic body construction with a dual-colour finish, and a smooth surface, and is completely rust-proof.

The vehicle also has PU foam seats for comfortable seating and independent suspension for enhanced ride comfort and stability. The price of the Eblu Rozee electric three-wheeler starts at Rs.3.39 lakh (ex-showroom).

For more information about the financing options and how to drive home your Eblu E-Rickshaw with ease, interested parties can visit Godawari Electric Motors' official website or contact IDBI Bank's nearest branch.

Godawari Electric Motors Private Limited is an unlisted private company that was established on October 30, 2019. It is a private limited company headquartered in Raipur, Chattisgarh. It has a total paid-up capital of INR 3.54 crore and an authorized share capital of INR 5.00 crore.