Ola Electric ties up with banks, fin institutions for loans to customers

Ola Electric on Monday said it has tied up with leading banks and financial institutions, including HDFC Bank, ICICI Bank, Kotak Mahindra Prime and TATA Capital, for providing loans to customers for its S1 electric scooter that will be available for purchase from September 8.

The company, which had last month launched the Ola S1 electric scooter in two variants — S1 and S1 Pro — at prices Rs 99,999 and Rs 1,29,999, respectively (ex-showroom including FAME II subsidy and excluding state subsidies), said it will start deliveries in October.

“We have tied up with all the major banks and (financial) institutions…we will have many of them live starting September 8 and then others will be live soon after,” Ola Electric Chief Marketing Officer Varun Dubey told PTI.