5th October 2024: GT Force, a pioneer in electric two-wheeler manufacturing, has announced a strategic partnership with I-Loan, a premier online electric two-wheeler loan platform, part of the LoanTap Group, to enhance accessibility and affordability for customers across India. The partnership aims to simplify the purchasing process for individuals looking to own GT Force’s diverse lineup of high and low-speed models, including the GT Vegas, GT Ryd Plus, GT One Plus Pro, and GT Drive Pro, as well as the flagship GT Texa, a premium electric motorcycle. This follows GT Force’s recent partnership with ESAF Small Finance Bank, headquartered in Thrissur, Kerala, known for its dedication to providing banking services and small loans to the underbanked.
With I-Loan’s financing options, customers can now enjoy flexible repayment plans such as low-cost EMIs, and tailored loan tenures. These solutions reduce the burden of upfront payments, enabling a broader range of buyers to opt for sustainable transportation solutions without compromising financial stability. This initiative aligns with GT Force’s vision of promoting the adoption of eco-friendly electric vehicles (EVs) while ensuring customer convenience.
Commenting on the partnership, Mr. Mukesh Taneja, Co-Founder and Managing Director of GT Force, said, “At GT Force, we are committed to driving the adoption of electric vehicles across India. Partnering with I-Loan is a significant step toward making our electric two-wheelers more accessible to customers. Financing plays a crucial role in facilitating this shift by offering easy and affordable payment options. With I-Loan, we aim to provide customers with the flexibility they need, while also empowering our dealers to offer value-added services. This collaboration will not only boost sales but also enhance customer satisfaction, strengthening our position in the electric two-wheeler market.”
Mr. Rajeev Das, CEO at I-Loan (LoanTap Group) stated, “We are excited to partner with GT Force to make electric mobility more accessible for all. Our innovative financing solutions are designed to empower customers with flexible repayment options, enabling them to invest in a sustainable future without financial stress. This collaboration aligns perfectly with our mission to provide hassle-free loan products that enhance the customer experience and drive the adoption of electric vehicles across India.”
Through this partnership, I-Loan will provide unique loan products that differentiate from other financing options in the market, including a fully digital customer journey, strong field support for dealerships, and multiple repayment tenure options. Loan approvals will be fast-tracked with minimal paperwork, ensuring customers have a seamless buying experience. Additionally, dealers will be equipped with training and resources to effectively promote these financing solutions, including QR codes for streamlined access and assistance from I-Loan’s field team. Notably, GT Force will closely monitor the impact of this partnership by tracking metrics such as loan-driven sales growth, customer satisfaction, and dealer feedback. Regular strategic reviews with I-Loan will ensure the partnership evolves in line with market needs and customer expectations.
With 40 existing dealerships across states like Haryana, Punjab, Uttar Pradesh, Bhopal, Madhya Pradesh, Chhattisgarh and beyond, GT Force is well-positioned to leverage this partnership. The company has also set ambitious plans to expand its network to 100 dealership showrooms by the end of 2024, further enhancing the availability of its eco-friendly electric vehicles.