Hero Electric signs partnership with Grip to offer leasing solutions

Dual Hero Electric Optima HX battery. (Photo: Manav Sinha/News18.com)

Hero Electric said it has partnered with Grip, an alternative investment platform, for its lease financing solutions for retail investors.

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  • Last update:February 20, 2022, 3:58 PM HST
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Hero Electric said on Thursday it has partnered with Grip, an alternative investment platform, for its lease financing solutions for retail investors. With this partnership, the company aims to encourage the adoption of electric vehicles (EVs) by leasing them to last-mile delivery, logistics as well as other e-commerce players looking to electrify their fleets.

Under this partnership, 20,000 Hero Electric NYX scooters will be purchased by Grip with a targeted rollout of 10,000 scooters in the current calendar year. “Corporate fleet electrification has been one of the government’s top conversations to neutralize carbon emissions across the country. As the delivery and e-commerce segments experience exponential growth, Hero Electric aims to support the electrification campaign and steer the transition to electric vehicles,” Hero Electric CEO Sohinder Gill said in a statement. communicated.

This partnership highlights the company’s vision to offer environmentally friendly mobility solutions and the direct cost savings benefit of adopting electric mobility, he added. “It further allows us to explore different channels to rent and supply our scooters and contribute to the growth momentum of electric vehicles and other sectors,” Gill said.

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Speaking about the collaboration, Grip co-founder and COO Vivek Gulati noted that leasing financing has many advantages for promising companies.

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