Kinetic Green Energy and Power Solutions Limited, India's leading manufacturer of electric vehicles today, announced its partnership with Cholamandalam Investment and Finance Company Limited (Chola), the well-known financial services arm of Murugappa Group, to offer easy and smart financing for their range of battery-operated three-wheelers and electric two-wheelers. By virtue of an MoU signed by both the companies, Kinetic Green has nominated Chola as an 'Accredited Financier' for financing its customers.
The collaboration aims to make Kinetic Green's battery-operated vehicles more affordable for the discerning and price conscious buyers with attractive financing solutions. This will also enable Kinetic Green to cater to newer markets with Chola's widespread presence across the country.
Commenting on the partnership, Sulajja Firodia Motwani, Founder and CEO, Kinetic Green said, "I strongly believe that this partnership will enable Kinetic Green and its dealers to offer easy and affordable financing solution to our EV customers which perfectly fit their needs and repayment abilities. With attractive finance options provided by Chola-Kinetic partnership, Kinetic Green's customers can be assured of competitive financing solutions for their finance needs. This will further propel the growth of Kinetic Green's electric 2W and 3W and help us achieve our vision of bringing green mobility to the masses in India."
"We are happy to be partnering with Kinetic Green, a brand which comes with the legacy and culture of innovation and excellence, and a proven track record. This relationship will help us in taking a step closer to fulfilling our ESG goals. Building quality relationships has always been a cornerstone of Chola's philosophy. We are committed to building lasting, loyal relationships with our customers and partners by consistently delivering excellent value for both. The best aspect about this alliance with Kinetic Green is the fact that the biggest beneficiaries will eventually be the esteemed customers. With our strong network of 1145 plus branches across India, we aim to offer the customers a never-before experience through customised finance packages that would come with speedy, convenient and transparent processes. This partnership is also in line with our continuous endeavour in enabling our customers to 'Enter a Better Life'," adds Mr. Ravindra Kundu, Executive Director, Cholamandalam Investment and Finance Company Limited.
With unmatched customer care, state-of-the-art manufacturing infrastructure, robust R&D and intelligent manpower, Kinetic Green continues its pioneering work to promote the green movement to electrify India's mobility sector.
Shares of Cholamandalam Investment and Finance Company Limited was last trading in BSE at Rs. 652.55 as compared to the previous close of Rs. 641.05. The total number of shares traded during the day was 31448 in over 1556 trades.
The stock hit an intraday high of Rs. 654.55 and intraday low of 635.00. The net turnover during the day was Rs. 20420468.00.