MLR Auto partners with Revfin Services to provide financing for its electric three-wheelers.

In a move aimed at boosting the adoption of electric three-wheelers in India, MLR Auto Limited, an associate company of Greaves Electric Mobility Private Limited (GEMPL), has signed an agreement with Revfin Services Private Limited. Revfin is a digital consumer lending platform that provides loans using non-traditional data and techniques like Biometrics, Psychometrics, and Gamification.

The partnership between MLR Auto and Revfin will focus on financing commercial electric vehicles for individual drivers. The loan facility will be delivered digitally through an app, making it convenient and accessible to all individuals. The aim is to accelerate the adoption of electric three-wheelers by the bottom-of-pyramid customers, for whom savings offered by EVs are an important factor that impacts their livelihood.

Electric three-wheelers for passenger and cargo mobility have a significant role to play in driving sustainable last-mile mobility across India. This partnership marks the first of its kind for GEMPL’s E3W portfolio, and it will initially take effect in North and East India, with plans to expand nationwide in the near future.

Commenting on this tie-up, Sanjay Behl, CEO & Executive Director, Greaves Electric Mobility Private ltd, said, “We are delighted that MLR Auto Limited, an associate company of GEMPL joins hands with Revfin for further advancing the Indian cargo and passenger three-wheeler sector to a more sustainable and emission-free future. Through this agreement, we will enhance customer access to hassle-free and easy financing options, simplify the purchase journey, and lower the barriers of entry to electric three-wheeler adoption. Our electric 3-wheeler customers depend on our vehicles for their livelihood, and by ensuring easy financing, we are not just giving them an assured way of earning a livelihood, but we are also empowering their lives through the savings that our EVs offer.”

Sameer Agrawal, CEO and Founder, Revfin Services Private Ltd, said, “We are very hopeful and excited about joining hands with MLR Auto Limited as it will enable us to expand our footprint in the EV ecosystem. The next critical advancement in the industry will be the electrification of cargo 3-wheelers, and our collaboration will escalate the adoption of EVs in this market segment. With this agreement, we are also increasing our market share for passenger three-wheelers. Together, we will strive to provide our end clients with a seamless, pollution-free delivery service while minimizing the effects of carbon emissions on last-mile delivery.“

Greaves Electric Mobility Private Limited (GEMPL) has a vision to transform India’s last-mile mobility by bringing sustainability to the forefront through clean mobility. At the recent Auto Expo, GEMPL unveiled their new range of electric three-wheelers designed for both passenger and cargo mobility, which is a crucial step towards their goal. Greaves Cotton Limited, one of the early pioneers in the EV space, has been instrumental in developing a complete mobility ecosystem in India.

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