EV Finserv, a rural EV financing and leasing company based in NCR, has introduced its new brand, “SELECTIONS.” SELECTIONS is a multi-brand outlet specializing in E-rickshaws, EV 2-wheelers, and batteries. The inaugural outlet has opened in Etawah, Uttar Pradesh, with plans to expand to over 40 outlets by the end of 2024.
The retail experience center will provide expedited finance and leasing services through EV Finserv. It will also offer financing and leasing options for lead-acid and lithium-ion batteries, along with vehicle lifecycle management services and the opportunity to resell EVs.
Nitin Sabharwal, Founder and CEO of EV Finserv, described the launch of SELECTIONS as a step toward assisting customers in their ownership journey and addressing a significant challenge for lenders – an efficient secondary market.
“Getting closer to customers will help design more efficient financial products,” added Deepak Srivastava, co-founder and CBO, EV Finserv.
SELECTIONS offers several features and benefits, such as:
- Multiple brands under one roof for more choice
- Express leasing and financing,
- Standalone options for battery leasing and financing
- Instant buyouts of used assets at fair valuations, and
- Use of technology-driven analytics to improve partner OEM products.
EV Finserv focuses on providing financing for electric vehicles in rural areas, with dedicated staff at over 100 locations in Uttar Pradesh, Bihar, and Madhya Pradesh. The company manages an Asset Under Management (AUM) of approximately 25 Crores, with no Non-Performing Assets (NPAs), and is the largest operating lease provider of E Rickshaws in the country.