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GT Force Teams Up with ESAF Small Finance Bank for E2W Financing

GT Force has inked a strategic partnership with ESAF Small Finance Bank to provide retail finance solutions for its customers.

June 24, 2024. By Aishwarya

GT Force has inked a strategic partnership with ESAF Small Finance Bank to provide retail finance solutions for its customers.

This collaboration aims to enhance accessibility for potential buyers, enabling them to purchase GT Force's electric two-wheelers with greater ease and convenience.

ESAF Small Finance Bank, headquartered in Thrissur, Kerala, is known for its commitment to providing banking services and small loans to the underbanked, making it an ideal partner for GT Force in expanding its customer base. With this initiative, interested customers from all walks of life can apply for financing, turning the aspiration of owning an electric vehicle (EV) into a reality.

Commenting on the partnership, Mukesh Taneja, Co-Founder and Managing Director of GT Force, emphasised, "Apart from incentives, the availability of robust financing options stands as a pivotal factor in facilitating customers' smooth transition from conventional ICE vehicles to eco-friendly alternatives that meet their mobility needs. Recognizing that a substantial portion of two-wheeler sales hinges on financing options, our collaboration with ESAF Small Finance Bank marks a pivotal step in making our electric vehicles more accessible to a broader audience. This partnership is also set to accelerate our sales growth at a time when we are in our expansion phase.”

"Our dealers across states will play an important role in ensuring a seamless end-to-end experience, from educating customers about financing options to delivering exceptional after-sales service,” he added.

A senior management spokesperson of ESAF Small Finance Bank, stated, "We are excited to partner with GT Force to facilitate the purchase of electric two-wheelers through our retail finance solutions. This collaboration reflects our commitment to supporting sustainable and eco-friendly initiatives while providing financial inclusivity to the underbanked segments in the EV market. We believe that our robust financial offerings will empower more individuals to adopt environmentally friendly transportation options, contributing to a cleaner and greener future for all."

EV enthusiasts have the exclusive opportunity to finance GT Force's latest lineup of electric two-wheelers, designed to cater to both low and high-speed preferences. The GT Vegas, priced at INR 55,555 (ex-showroom), features a 1.5 kWh battery pack, offering a range of up to 70 km. For those seeking enhanced range, the GT Ryd Plus, priced at INR 65,555 (ex-showroom), boasts a 2.2 kWh battery pack with a range of 95 km.

Stepping up further, the GT One Plus Pro, priced at INR 76,555, is equipped with a 2.5 kWh battery, extending the range to 110 km. Additionally, the flagship model, GT Drive Pro, priced at INR 84,555, shares similar features and specifications with the One Plus Pro.

All GT Force products are available through its 35 outlets across multiple states, including Madhya Pradesh, Uttar Pradesh, Rajasthan, Punjab, Haryana, Chhattisgarh, and Delhi-NCR. To enhance accessibility to its eco-friendly products, GT Force recently announced plans to establish a total of 100 dealership showrooms by the end of 2024. Each showroom will be equipped with comprehensive infrastructure following the 3S model, encompassing sales, service, and spare parts support.
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