M&M's EV arm collaborates with financing firm to facilitate sustainable last-mile transportation in India
19 Nov 2018 | 24339 Views | By Autocar Pro News Desk
Mahindra Electric Mobility, which recently opened a brand-new electric vehicle (EV technology facility in Bangalore, has signed an MoU with Three Wheels United (TWU), a social enterprise providing affordable financing for autorickshaw drivers and integrating them with public transportation.
The MoU was signed during Auto Day 2018 on November ...
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Mahindra Electric Mobility, which recently opened a brand-new electric vehicle (EV technology facility in Bangalore, has signed an MoU with Three Wheels United (TWU), a social enterprise providing affordable financing for autorickshaw drivers and integrating them with public transportation.
The MoU was signed during Auto Day 2018 on November 17, 2018 in the presence of senior officials and dignitaries. The event is an annual property organised by the TWU and brings together almost 5,000 auto drivers. This year, the representation included Bangalore, Chitradurga and Pondicherry.
Under this MoU, Mahindra Electric and TWU will work together to accelerate the adoption of electric three-wheelers in India. This will include the identification and financing facility for auto drivers, so that 2,000 Mahindra Treos are rolled out across the country, by next year, as a result of this association. The MoU also highlights the use of Mahindra’s NEMO (Next Generation Mobility Solution) as the preferred mobility solution platform to be used by the TWU.
Mahesh Babu, CEO Mahindra Electric said, “We are happy to join hands with Three Wheels United to help accelerate the adoption of the Mahindra Treo. Built on India’s first lithium-ion battery, three-wheeler platform, we are confident that the Treo will transform the way urban India travels. Associations with partners like these will make it easier for drivers to adopt electric mobility, and for our cities to be more environment-friendly.”
Cedrick Tandong, CEO, Three Wheels United added, “Three Wheels United is excited to begin this journey with Mahindra Electric into the future of mobility. We have always put the drivers first and we look forward to continuing this while shifting drivers to the less polluting, money saving, more comfortable Treo autorickshaws. We will provide these drivers affordable loans and will use technology to optimise earnings for drivers, while promoting sustainable transport. We intend to do this not only in Bangalore but across India, deploying 12,000 electric vehicles over the next three years.”
The Treo range of electric three-wheelers uses Mahindra Electric’s home-grown powertrain and maintenance-free lithium-ion battery. The variants include Treo electric auto and Treo Yaari electric rickshaw, both available in the industry first hard-top, weather-proof variants. M&M says by using lightweighting technologies and composite body panels, the Treo boasts a certified range of 170 km (eAuto), directly addressing the issue of range anxiety in the market.
Treo also offers connected vehicle features as an optional value addition, a spacious interior, and a clutch-less, noiseless and vibration-free drive, thereby reducing overall fatigue during the journey.
Also read: Mahindra bets big on e-mobility, opens new EV tech plant, launches Treo 3W at Rs 136,000
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