Hero Electric Partners With Grip; To Offer Lease Financing

Hero electric lease financing with Grip is a step towards a wider adoption of electric vehicles across the country…

Hero Electric have announced their partnership with Grip with an objective to facilitate lease financing solutions to retail investors. With this move Hero Electric wants to capitalise the shift in mindset of businesses who want to adopt emission-free mobility and are choosing to focus on electric and reduce their carbon footprint.

hero electric lease financing

Grip is an investment marketplace, functioning since June 2020,  that provides retail investors with options to co-invest and have partial ownership in physical assets that earn lease income.They provide a lease finance platform where investors can purchase and lease assets to companies, providing them an additional investment instrument. 

Leveraging this partnership, Hero Electric will lease electric vehicles to last-mile delivery, logistics as well as other e-commerce players who are interested in electrifying their fleets. 

Under the partnership, 20,000 Hero Electric NYX scooters will be sourced by Grip. Hero Electric targets to deploy 10,000 scooters by the end of this calendar year. 

hero electric lease financing

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Speaking on the new partnership, Mr. Sohinder Gill (CEO, Hero Electric) said –

Fleet electrification by businesses has been one of the key conversations being driven by the government to neutralize carbon emissions across the country. With the delivery and e-commerce segments growing exponentially, Hero Electric aims to support the electrification drive and steer the EV transition.

He further adds –

This partnership highlights our vision of offering eco-friendly mobility solutions and the direct advantage of adopting electric mobility in terms of savings. It further enables us to explore different channels to lease and supply our scooters and contribute to the growth momentum of EVs and other sectors.