Mumbai, 27th August 2024: Revfin, India’s pioneering digital lending platform championing sustainable mobility, has announced a strategic partnership with Bajaj Auto, a prominent manufacturer of three-wheelers in India and across 70 countries. The collaboration marks a significant step towards advancing the electric three-wheeler (e3W) segment, its adoption, and creating a robust ecosystem, thereby contributing to a greener future for first and last-mile mobility.
The collaboration between Revfin and Bajaj Auto has significant potential to drive innovation, expand market presence, and enhance customer satisfaction within the electric three-wheeler (e3W) segment. By leveraging Revfin’s first-in-the-market psychometric assessment capabilities, Bajaj Auto can improve the overall customer experience of its e3W offerings and effectively meet diverse market demands. The association will additionally harness Revfin’s expertise in financial services and deep understanding of the three-wheeler ecosystem. Bajaj Auto’s strong market presence and diverse product portfolio will complement these strengths, facilitating the expansion and penetration of Bajaj’s e3W offerings, particularly in Tier 2 and Tier 3 cities which are core strength markets for Revfin.
Sharing his views on the association, Sameer Aggarwal, CEO of Revfin, said, “We are happy to partner with Bajaj Auto, a foremost leader in India’s three-wheeler market, to accelerate the adoption of sustainable mobility solutions across the country. By combining our shared commitment to electric vehicles and financial inclusion, we are poised to establish a formidable ecosystem that encourages both consumers and fleet operators to embrace eco-friendly three-wheeler options.”
“Bajaj Auto’s technological expertise and market dominance, paired with RevFin’s proven financial inclusion capabilities, will enable us to drive widespread awareness, provide accessible financing, and ultimately facilitate the widespread uptake of these greener and more efficient transportation alternatives. This strategic alliance is a significant step towards realizing our vision of a cleaner and sustainable future.”, he added.
The partnership also underscores the mutual commitment of both companies to promoting electric mobility. e3Ws offer numerous benefits, including reduced emissions, lower operating costs, and a contribution to cleaner air. Through joint efforts, Bajaj and RevFin seek to create awareness and incentivize the adoption of e3Ws among consumers and fleet operators.
In addition to promoting electric mobility, the collaboration between Revfin and Bajaj Auto also focuses on infrastructure development. Recognizing the importance of a robust charging network for the widespread adoption of electric vehicles, including three-wheelers, RevFin’s involvement may extend beyond financial services to include charging infrastructure development.
Samardeep Subandh, President of Bajaj Auto said, “This strategic tie-up with Revfin marks a crucial stride in Bajaj Auto’s mission to accelerate the nationwide shift towards electric mobility in India. By integrating our renowned product quality and technological expertise with Revfin’s innovative financial solutions, we anticipate penetrating untapped markets and enabling a broader spectrum of individuals and fleet operators to embrace sustainable transportation options. This collaboration is geared towards enhancing accessibility and appeal of our eco-friendly three-wheeler offerings to a diverse customer base, driving adoption, and contributing to a cleaner, greener future for first and last-mile mobility.”
Revfin’s financial services play a crucial role in supporting e3W adoption by offering affordable financing options for buyers, particularly small entrepreneurs, fleet operators, and individual customers. Access to such financing options can accelerate the adoption of electric three-wheelers, benefiting both Bajaj Auto and RevFin while promoting financial inclusion