The electric mobility division of Greaves Cotton Limited, Greaves Electric Mobility Private Limited (GEMPL), and Shriram Finance, a financial services provider owned by the Shriram Group, have partnered. The partnership intends to make Greaves Electric Mobility’s three-wheelers more accessible by providing customized financing options, such as adjustable EMI plans and down payment options.
The pan-Indian network of Shriram Finance will contribute to last-mile mobility in the passenger and freight sectors. Greaves Electric Mobility’s objective of increasing the country’s consumer base for electric vehicle adoption through its 3W product line, which includes Greaves 3 Wheelers, Eltra City, and Eltra Cargo, is in line with this agreement.
In the presence of Gopinath TA, Assistant Vice President of Shriram Finance, Chandrasekar R, Joint Managing Director of Shriram Finance, and K Vijaya Kumar, Executive Director and CEO of Greaves Electric Mobility, the agreement was signed.
According to K Vijaya Kumar, financing accessibility is crucial to the growth of three-wheeler adoption for last-mile mobility in India, since it enables customers with varying financial means to contemplate sustainable mobility options. He continued by saying that these alliances help the larger objective of making India a hub for electric vehicles while also improving the lives of drivers by providing a variety of down payment alternatives and alluring EMI plans.
The goal of the two organizations’ partnership, according to Gopinath TA, Assistant Vice President of Shriram Finance, is to improve accessibility to mobility for last-mile passenger and cargo transportation across a range of fuel types.
Greaves Electric transportation is working to increase the accessibility and cost-effectiveness of three-wheeler transportation options throughout India, and this agreement is one step in that direction.