The partnership between Greaves Electric Mobility and Shriram Finance aims to boost the adoption of electric three-wheelers by offering tailored financing options, including flexible EMI plans and down payment choices, for passenger and cargo segments across India.
01 Oct 2024 | 9865 Views | By Autocar Professional Bureau
Greaves Electric Mobility Private Limited (GEMPL), the electric mobility division of Greaves Cotton Limited, has announced a partnership with Shriram Finance, a financial services company from the Shriram Group. The collaboration aims to increase the accessibility of Greaves Electric Mobility’s three-wheelers by offering tailored financing options, including down payment choices ...
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Greaves Electric Mobility Private Limited (GEMPL), the electric mobility division of Greaves Cotton Limited, has announced a partnership with Shriram Finance, a financial services company from the Shriram Group. The collaboration aims to increase the accessibility of Greaves Electric Mobility’s three-wheelers by offering tailored financing options, including down payment choices and flexible EMI plans.
Shriram Finance's pan-India network will play a role in supporting last-mile mobility across both passenger and cargo segments. This partnership aligns with Greaves Electric Mobility's goal of expanding electric vehicle adoption through their 3W product range, which includes Greaves 3 Wheelers, Eltra City, and Eltra Cargo, to consumers across the country.
The agreement was signed in the presence of K Vijaya Kumar, Executive Director and CEO of Greaves Electric Mobility; Chandrasekar R, Joint Managing Director of Shriram Finance; and Gopinath TA, Assistant Vice President of Shriram Finance.
K Vijaya Kumar mentioned that accessible financing is essential for increasing the adoption of 3-wheelers for last-mile mobility in India, allowing customers with different budgets to consider sustainable mobility options. He added that such partnerships offer multiple down payment options and attractive EMI plans, supporting the broader goal of making India a hub for electric vehicles while also benefiting drivers’ livelihoods.
Gopinath TA, Assistant Vice President of Shriram Finance, noted that this collaboration between the two companies aims to enhance access to mobility for last-mile passenger and cargo transportation across various fuel types.
This partnership represents a step in Greaves Electric Mobility's efforts to expand the availability and affordability of three-wheeler mobility solutions across India.